Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Pfizer to Pay Up to $700 Million for Liquid ADHD Drug

Pfizer to Pay as Much as $700 Million for Liquid ADHD Drug
Pfizer Inc. had paid Cupertino, California-based NextWave Pharmaceuticals Inc. $20 million in the second quarter as part of an option to buy the company. Photographer: Munshi Ahmed/Bloomberg

Oct. 22 (Bloomberg) -- Pfizer Inc., the world’s biggest drugmaker, agreed to pay as much as $700 million to buy NextWave Pharmaceuticals Inc., the closely held maker of a medicine to treat attention deficit hyperactivity disorder.

The deal includes an initial $255 million and as much as $425 million in milestone payments depending on how well NextWave’s liquid ADHD drug, Quillivant XR, sells, New York-based Pfizer said in a statement today. Pfizer had paid Cupertino, California-based NextWave $20 million in the second quarter as part of an option to buy the company.

NextWave’s formulation was approved by U.S. regulators on Oct. 1. It’s a liquid form of attention-deficit drugs such as Novartis AG’s Focalin that no longer have patent protection.

“This agreement demonstrates our focused expansion of the Established Products U.S. brands business,” Albert Bourla, president of Pfizer’s Established Products unit, said in the statement.

Pfizer has been shedding non-drug units like its animal health and nutritionals businesses as Chief Executive Officer Ian Read focuses the company on developing new prescription medicines. The drugmaker’s shares fell less than 1 percent to $25.60 at the close of New York trading.

Jefferies Group Inc. acted as financial adviser to Pfizer, while Aquilo Partners LP was NextWave’s adviser, according to the statement.

To contact the reporter on this story: Drew Armstrong in New York at;

To contact the editor responsible for this story: Reg Gale at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.