« Return to News | Drug Sponsors

Pfizer to acquire NextWave Pharmaceuticals

Monday, October 22, 2012 12:56 PM

Pfizer, a global research-based pharmaceutical company, has agreed to acquire NextWave Pharmaceuticals, a privately-held, specialty pharmaceutical company focused on attention deficit/hyperactivity disorder (ADHD) and related central nervous system (CNS) disorders.

Pfizer had previously entered into an option and merger agreement with NextWave during the second quarter 2012 and made an option payment of $20 million. Pfizer is exercising the option to acquire NextWave and will make a payment to of $255 million to NextWave's shareholders at the closing of the transaction. NextWave's shareholders are eligible to receive additional payments of up to $425 million based on certain sales milestones.

Through the acquisition Pfizer will gain Quillivant XR (methylphenidate hydrochloride), an extended-release oral suspension and the first once-daily liquid medication approved in the U.S. for the treatment of ADHD.

"This agreement demonstrates our focused expansion of the Established Products U.S. brands business to offer a diverse portfolio of high-quality medicines that meet patients' needs," said Albert Bourla, president and general manager in Pfizer's Established Products Business Unit. "By combining the advantages of Quillivant XR with Pfizer's commercialization expertise, we will be able to provide ADHD patients and their caregivers a new treatment option."

The transaction is expected to close during the fourth-quarter 2012, subject to regulatory approval in the U.S., and other customary closing conditions.

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

December 17

Medici Global says its Alzheimer's Facebook page demonstrates the need for more early detection trials

Analysts: Expect more equity purchases of CROs in 2013

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

January 2013

Parexel celebrates 30 years of change, growth
CRO's founder and chairman reflects on challenges of the past, present and future

Strategies for increasing patient diversity in trials
Sponsors look to improve racial, ethnic recruitment without going overseas

Already a subscriber?
Log in to your digital subscription.

Purchase the January issue.

Subscribe to The CenterWatch Monthly.

December 2012

Publicity, regulation tightening reins on use of KOLs
Debate rages over need to revamp how sponsors use, pay medical experts

Time may be right to makeover the investigator brochure
Size, complexity prevent critical document from being thoroughly read

Already a subscriber?
Log in to your digital subscription.

Purchase the December issue.

Subscribe to The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.