Pfizer buys NextWave Pharmaceuticals
pharmafile | October 23, 2012 | News story | Sales and Marketing | ADHD, Pfizer, Qullivant, nextwave
Pfizer is to acquire NextWave Pharmaceuticals by the end of the year in a deal that could be worth $680 million to the private pharma company.
Pfizer, which made an option payment of $20 million earlier this year, will now pay another $255 million at the close of the transaction, and could be liable for up to $435 million more to NextWave in milestone payments.
California-based NextWave specialises in drugs to treat attention deficit/hyperactivity disorder (ADHD) and related central nervous system (CNS) conditions.
Pfizer is particularly interested in NextWave’s Quillivant XR (methylphenidate hydrochloride), the first once-daily liquid medication in the US for ADHD, approved only last month by the FDA.
NextWave has exclusive North American rights for the drug, which is expected to be in pharmacies by January 2013. The company is aiming to submit an extended release version in chewable tablet form to the FDA next year.
“This ragreement demonstrates our focused expansion of the established products US brands business to offer a diverse portfolio of high quality medicines that meet patients’ needs,” said Albert Bourla, president of Pfizer’s established products business unit.
“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,” he added.
NextWave, whose other products include Nexiclon XR (clonidine), an oral treatment for hypertension, developed Quillivant XR with Tris Pharma and the drug is built on Tris’ OralXR+ platform.
Possible serious side effects of the brand are heart-related and mental problems, as well as the slowing of growth in terms of both height and weight in children.
ADHD is a competitive therapy area, and there are currently several hyperactivity generics on the US market, the most recent of which being Actavis Group’s version of Shire’s Adderall XR.
Shire’s ADHD brand Vyvanse remains a key player, with sales of $805m last year.
Adam Hill
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