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Home Industry News Pfizer to purchase NextWave Pharmaceuticals

Pfizer to purchase NextWave Pharmaceuticals

23rd October 2012

Pfizer has agreed a deal to acquire the privately-held specialty healthcare company NextWave Pharmaceuticals in a deal worth up to $680 million (424.49 million pounds).

NextWave specialises in the development and commercialisation of unique products for the treatment of attention deficit hyperactivity disorder (ADHD) and related central nervous system disorders.

In collaboration with Tris Pharma, it created Quillivant XR, which is the first once-daily liquid medication approved for the treatment of ADHD in the US and is expected to launch early next year.

Albert Bourla, president and general manager in Pfizer's established products division, 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."

The deal is expected to close in the fourth quarter of 2012, subject to relevant regulatory approvals.

Last month, Pfizer allied with Zhejiang Hisun Pharmaceuticals to create a new China-based joint venture called Hisun-Pfizer Pharmaceuticals, which will develop a range of off-patent drugs.ADNFCR-8000103-ID-801474229-ADNFCR

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