Pfizer will buy NextWave Pharma for up to $700M

October 22, 2012

(AP)—Pfizer said Monday it will buy NextWave Pharmaceuticals Inc., a company that makes a liquid attention deficit hyperactivity disorder drug, in a deal worth as much as $700 million.

The approved NextWave's drug Quillivant XR in September, and the once-per-day drug is expected to be in pharmacies in January.

made a $20 million option payment to Cupertino, California-based NextWave in the second quarter to establish a merger agreement. The company will pay $255 million when the deal closes, and agreed to pay NextWave another $425 million based on sales milestones.

Pfizer said about 9.5 percent of children have received a diagnosis of ADHD at some point, and around 4 percent of adults have the condition.

NextWave is also developing extended release chewable tablets using the same drug. It has an advanced-stage study of the tablets in process, and aims to submit the product for approval next year.

Pfizer expects the deal to close during the fourth quarter, subject to regulatory approval.

Shares of . slipped a penny to $25.75 in premarket trading.

Explore further: US approves India's Ranbaxy to make generic Lipitor

shares

Related Stories

US approves India's Ranbaxy to make generic Lipitor

December 1, 2011
Indian pharmaceutical giant Ranbaxy won US regulatory approval to make the first generic version of cholesterol lowering drug Lipitor, a Pfizer product whose patent expired Wednesday.

FDA clears Pfizer drug for advanced kidney cancer

January 27, 2012
(AP) -- The Food and Drug Administration has approved a new Pfizer drug for patients with advanced kidney cancer that has spread to other parts of the body despite treatment with at least one previous drug.

Recommended for you

Study suggests ending opioid epidemic will take years

July 20, 2017
The question of how to stem the nation's opioid epidemic now has a major detailed response. A new study chaired by University of Virginia School of Law Professor Richard Bonnie provides extensive recommendations for curbing ...

Team-based model reduces prescription opioid use among patients with chronic pain by 40 percent

July 17, 2017
A new, team-based, primary care model is decreasing prescription opioid use among patients with chronic pain by 40 percent, according to a new study out of Boston Medical Center's Grayken Center for Addiction Medicine, which ...

Private clinics' peddling of unproven stem cell treatments is unsafe and unethical

July 7, 2017
Stem cell science is an area of medical research that continues to offer great promise. But as this week's paper in Science Translational Medicine highlights, a growing number of clinics around the globe, including in Australia, ...

Popular heartburn drugs linked to higher death risk

July 4, 2017
Popular heartburn drugs called proton pump inhibitors (PPIs) have been linked to a variety of health problems, including serious kidney damage, bone fractures and dementia. Now, a new study from Washington University School ...

Most reproductive-age women using opioids also use another substance

June 30, 2017
The majority of reproductive-age and pregnant women who use opioids for non-medical purposes also use at least one other substance, ranging from nicotine or alcohol to cocaine, according to a University of Pittsburgh Graduate ...

At-risk chronic pain patients taper opioids successfully with psychological tools

June 28, 2017
Psychological support and new coping skills are helping patients at high risk of developing chronic pain and long-term, high-dose opioid use taper their opioids and rebuild their lives with activities that are meaningful ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.