Tris Pharma, technology-based therapeutic products developer recently acquired NextWave Pharmaceuticals, a subsidiary of Pfizer, the American pharmaceutical corporation. The sum involved in the acquisition has not been disclosed. According to reliable sources, the acquisition will enable Tris Pharma to expand its product offering in the field of attention deficit hyperactivity disorder (ADHD) medication.
The deal specifies that Tris Pharma will acquire from NextWave QuilliChew ER and Quillivant XR, two recognized ADHD medications. Ketan Mehta, President and CEO of Tris Pharma has been reported to say that as co-developer of QuilliChew ER and Quillivant XR, Tris Pharma is thrilled about bringing the commercialization of these products in house and expanding the ADHD portfolio of Tris. He added that to further support the new acquisition, Tris will be building a state-of-the-art medical affairs group.
Quillivant XR is the only marketed and the first of its kind extended-release methylphenidate oral liquid while QuilliChew ER is the first extended-release chewable tablet methylphenidate. Both are used in the treatment of ADHD which is a neurodevelopmental disorder involving ongoing patterns of hyperactivity, inattention or impulsivity. According to the Centers for Disease Control and Prevention data released in 2011, almost 11% of U.S. children between the age of 4 and 17 had received ADHD medication at some point in their lives.
Tris Pharma develops products based on pharmaceutical science and technology. The company mainly focuses on the development, manufacturing and commercialization of generic and branded products. with the help of the LiquiXR platform developed by Tris, QuilliChew ER and Quillivant XR had been co-developed by Tris and NextWave. Both products secured the U.S. Food and Drug Administration approval for the treatment of ADHD as central nervous system stimulants. Even after Pfizer acquired NextWave in 2012, Tris continued to manufacture the products for Pfizer.
Dr Barry Herman, Chief Medical Officer, Tris Pharma has been reported to say that the new acquisition will take Tris a step closer to realizing its corporate mission of meeting medical needs for all patients.