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

In most surgery patients, length of opioid prescription, number of refills spell highest risk for misuse

January 17, 2018
The possible link between physicians' opioid prescription patterns and subsequent abuse has occupied the attention of a nation in the throes of an opioid crisis looking for ways to stem what experts have dubbed an epidemic. ...

Patients receive most opioids at the doctor's office, not the ER

January 16, 2018
Around the country, state legislatures and hospitals have tightened emergency room prescribing guidelines for opioids to curb the addiction epidemic, but a new USC study shows that approach diverts attention from the main ...

FDA bans use of opioid-containing cough meds by kids

January 12, 2018
(HealthDay)—Trying to put a dent in the ongoing opioid addiction crisis, the U.S. Food and Drug Administration on Thursday slapped strict new restrictions on the use of opioid-containing cold and cough products by kids.

Taking ibuprofen for long periods found to alter human testicular physiology

January 9, 2018
A team of researchers from Denmark and France has found that taking regular doses of the pain reliever ibuprofen over a long period of time can lead to a disorder in men called compensated hypogonadism. In their paper published ...

Nearly one-third of Canadians have used opioids: study

January 9, 2018
Nearly one in three Canadians (29 percent) have used "some form of opioids" in the past five years, according to data released Tuesday as widespread fentanyl overdoses continue to kill.

Growing opioid epidemic forcing more children into foster care

January 8, 2018
The opioid epidemic has become so severe it's considered a national public health emergency. Addiction to prescription painkillers, such as oxycodone and morphine, has contributed to a dramatic rise in overdose deaths and ...

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.