Pfizer Inc. has acquired NextWave Pharmaceuticals Inc. for $782 million in cash.
NextWave Pharmaceuticals is a privately held, specialty pharmaceutical company focused on treatment of attention deficit hyperactivity disorder (ADHD).
According to Bloomberg Businessweek, the U.S. Food and Drug Administration approved NextWave’s drug Quillivant XR in September. Quillivant XR is the first once-daily liquid medication approved in the United States for the treatment of ADHD. Pfizer now holds exclusive North American commercialization rights to the drug.
Quillivant XR is expected to be available in U.S. pharmacies in January 2013.