Pfizer gains rights to pulmonary arterial hypertension drug candidate Terguride from Ergonex

Pfizer Inc. said Wednesday it acquired the rights to an experimental pulmonary arterial hypertension drug from Swiss drugmaker Ergonex Pharma GmbH.

The companies did not disclose terms of the deal, which gives Pfizer the rights to the drug candidate terguride in all countries except Japan. Pfizer will cover the costs of finishing mid-stage trials of terguride, and Ergonex will receive milestone payments if the drug advances through development, and will get royalties on sales if the drug is approved.

Pulmonary arterial hypertension is a type of High Blood Pressure that affects the arteries in the lungs and the right side of the heart. It is a progressive disease with no cure.

Terguride is already approved in Japan as a treatment for hyperprolactinemia, a hormone disorder that can cause infertility. Terguride has received orphan drug status in the U.S. and European Union, meaning Pfizer will have years of market exclusivity if the drug is approved.

Orphan drug status is given to drugs that treat rare diseases, and includes tax credits and incentives along with market exclusivity.

Pfizer shares slipped 22 cents to $16.79 in midday trading.

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NEW YORK (AP)