Pfizer to buy ADHD drug maker NextWave Pharma for $255 mn
22 Oct 2012
Pfizer Inc, the world's largest pharmaceutical company, today said that it would buy attention deficit hyperactivity disorder drug (ADHD) maker NextWave Pharmaceuticals, for $255 million.
NextWave is an emerging specialty pharmaceutical company primarily focused on the development and commercialisation of unique products for the treatment of ADHD and related central nervous system (CNS) disorders.
Pfizer said that ADHD is one of the most common neurobehavioural disorders in the US. According to the Centers for Disease Control and Prevention 2009 report, almost one in 10 or 9.5 per cent of children aged 4–17 in the US have at some time received a diagnosis of ADHD.1
The condition often lasts into adulthood, with adult ADHD affecting an estimated 4 per cent of Americans. ADHD is characterised by symptoms that include difficulty paying attention, impulsive behaviours and, in some cases, patients being overly active.
NextWave has developed Quillivant XR drug for extended-release oral suspension, the first once-daily liquid medication approved in the US for the treatment of ADHD, and holds exclusive North American commercialization rights to Quillivant XR.
The US Food and Drug Administration had approved Quillivant XR in September, and the company expects to market the drug in the US in January 2013.