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