Pfizer bags ADHD drug in $680M buyout of NextWave

Pfizer ($PFE) has snapped up NextWave, the maker of a recently approved liquid ADHD drug, in a deal worth up to $680 million. The company will fork over $255 million up front, and up to $425 million in milestone payments, provided the new drug meets sales goals. Curiously enough, the NextWave business will fold into Pfizer's established products unit. The active ingredient in Quillivant XR is the same as Ritalin's, but because of its new formulation--as an extended release liquid--it had to win separate FDA approval. It's the first once-daily liquid ADHD remedy in the U.S., and is expected to launch in January. Article