Pfizer Closes on NextWave Purchase, Could Pay Up to $700M
The deal gives Pfizer the rights to a liquid extended-release ADHD medication, Quillivant XR
New York pharmaceutical company Pfizer Inc. (NYSE: PFE) has completed its purchase of specialty pharmaceutical company, NextWave Pharmaceuticals Inc. for as much as $700 million.
NextWave develops and commercializes products, including Quillivant XR, that treat attention deficit hyperactivity disorder.
The price includes a $255 million payment to shareholders, plus $425 in potential additional payments based on sales milestones.
The deal was announced Oct. 22.
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