Pfizer completes acquisition of NextWave Pharmaceuticals

Pfizer has confirmed the completion of its acquisition of NextWave Pharmaceuticals, a specialist developer of therapies for attention deficit hyperactivity disorder (ADHD) and other central nervous system conditions.

Originally announced last month, the deal has been valued at up to $680 million (424.67 million pounds) and adds a number of new products to the Pfizer portfolio, including the US-approved ADHD therapy Quillivant XR.

Following the completion of the transaction, Pfizer will move ahead with plans to launch the drug – which was developed collaboratively by NextWave and Tris Pharma – across the US in January 2013.

This agreement followed on from an option and merger deal signed with NextWave during the second quarter of 2012.

Commenting on the deal last month, Pfizer's established products president and general manager Albert Bourla said: "By combining the advantages of Quillivant XR with Pfizer's commercialisation expertise, we will be able to provide ADHD patients and their caregivers a new treatment option."