Cubist Pharmaceuticals

Cubist Pharmaceuticals, INC
Subsidiary
Traded as Formerly NASDAQ: CBST
Industry Pharmaceuticals (Biopharmaceuticals & Biotherapeutics)
Founded 1992
Defunct 2015
Headquarters Lexington, Massachusetts
Key people
 Robert J. Perez, President, CEO;
Products Product Pipeline
Revenue Increase $926.4 million USD (2012)
Parent Merck & Co.
Website www.cubist.com

Cubist Pharmaceuticals was a U.S. biopharmaceutical company with activities spanning from research and development to commercialization of pharmaceutical products. Its main products target pathogens like MRSA.

Cubist was one of the few firms that continued to research in antibiotics while larger pharmaceutical companies have abandoned such research.[1] The company employs 638 people, with 370 in their headquarters in Lexington, MA.[2] As of 2011, the company’s headquarters are under expansion and is expected to occupy 373,000 sq ft (34,700 m2) in Lexington, MA. On 8 December 2014, Merck & Co. acquired Cubist for $102 per share in cash ($8.4 billion) as entree to the market for drugs that can combat superbugs.[3]

History

Cubist appeared on Fortune 2010’s List of fastest growing companies, and was named to the 2010 Deloitte Technology Fast 500.[4] In 2006 it had the 19th highest sales among American based biotechnology companies.

In 2011, the company acquired Adolor, maker of a drug for treatment of constipation.[5]

Cubist had an ambitious growth plan laid out for the 2012-2017 quinquennium. Under this plan, the company was expected to reach 2B dollars in sales and have 4 new drugs in late stage development by 2017. As a part of this plan, sales of its flagship drug Cubicin were expected to grow to more than 1B dollars per year.

In July 2013, Cubist Pharmaceuticals agreed to purchase Trius Therapeutics and Optimer Pharmaceuticals for around $1.6 billion.[6]

In 2014, succeeding Michael Bonney as President, Robert J. Perez, was announced to take leadership on January 1, 2015.[7] In January 2015 Cubist Pharmaceuticals became a wholly owned subsidiary of Merck & Co.

Products

The company markets Cubicin (daptomycin) for injection, the first antibiotic in a class of anti-infectives called lipopeptides. In 2011, Cubist settled a patent litigation with Teva Pharmaceutical Industries regarding Cubicin.[8] In April 2011 it reached a deal with Optimer Pharmaceuticals in which its class of bacterium fighting drugs will be co marketed with Optimer's Fidaxomicin/Dificid (for $15 million per year). Optimer chose Cubist because according to its CEO, "Cubist has a proven track record and well established relations with all stakeholders involved in the antibiotics space".[9]

In 2011, its product pipeline focused on gram-negative bacterial infections, Clostridium difficile-associated diarrhea, and respiratory syncytial virus.

Tedizolid was approved by the US Food and Drug Administration on June 20, 2014.

References

  1. ↑ Mullin, Emily (26 Aug 2014). "Cubist exec: Challenges mount in antibiotics discovery". Fiercebiotechresearch.com. Retrieved 23 Nov 2014.
  2. ↑ "Cubist Pharmaceuticals Inc. homesite". 2009 Annual Report. Retrieved 20 May 2011.
  3. ↑ Merck to take on superbugs with Cubist Pharma buy. Reuters, 9 December 2014
  4. ↑ "100 FASTEST-GROWING COMPANIES". CNN. 2010. Retrieved 28 May 2011.
  5. ↑ Associated Press (19 Jan 2012), "Cubist Profit Down 53%", Drug Discovery & Development, Advantage Business Media, retrieved 22 Jan 2012
  6. ↑ Vrinda Manocha and Zeba Siddiqui (30 July 2013). "Cubist to pay up to $1.6 billion for two antibiotics makers". Reuters.
  7. ↑ Weisman, Robert (20 Oct 2014). "New Cubist Pharmaceuticals chief executive will be Robert J. Perez". www.BostonGlobe.com. Retrieved 23 Nov 2014.
  8. ↑ "Cubist Settles Teva Patent Litigation on Antibiotic Cubicin". Bloomberg. 2011-04-05. Retrieved 28 May 2011.
  9. ↑ "Optimer to Market Dificid Drug With Cubist Pharmaceuticals". Bloomberg. 2011-04-06.

External links

Coordinates: 42°25′25.2″N 71°14′32.9″W / 42.423667°N 71.242472°W / 42.423667; -71.242472

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