In a deal worth up to US$680 M, Pfizer is to acquire NextWave Pharmaceuticals, a speciality pharmaceutical company that won US FDA approval in September 2012 for Quillivant XR™ (methylphenidate hydrochloride), a once-daily, extended-release formulation of liquid methylphenidate for attention deficit hyperactivity disorder that was developed using Tris Pharma’s OralXR+™ drug delivery platform. Pfizer paid US$20 M to NextWave during the second quarter of 2012 to secure a buyout option for the company.