Pfizer acquires NextWave after surfing ADHD drug to US approval

Pfizer will invest up to $700 million in privately-held NextWave Pharmaceuticals and its newly approved attention deficit/hyperactivity disorder (ADHD) drug Quillivant XR (methylphenidate hydrochloride), including a $20 million option fee the pharmaceutical giant paid during the second quarter of 2012 under an option and merger agreement.