Cubist Pharmaceuticals

Cubist Pharmaceuticals, Inc.

File:Cubist Pharmaceuticals Logo.svg
Company type	Subsidiary
Traded as	Nasdaq: CBST
Industry	Pharmaceuticals (Biopharmaceuticals & Biotherapeutics)
Founded	1992 (1992)
Defunct	2015 (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, Inc. was a US-based company in the biopharmaceutical industry focused on developing therapies against pathogens including MRSA. The firm employed a workforce of 638 individuals, mainly located in Lexington, Massachusetts. On December 8, 2014, Merck & Co. completed its acquisition of Cubist by purchasing shares at $102 each in cash, valuing the deal at $8.4 billion.

History

Established in May 1992 by John K. Clarke, Paul R. Schimmel, Ph.D., and Barry M. Bloom, Ph.D., who all served on the board of directors, Cubist rapidly gained recognition within the biopharmaceutical arena. In 2010, the company was featured on Fortune magazine’s list of fastest-growing enterprises and earned acknowledgment from Deloitte Technology Fast 500 during the same year.

The acquisition of Adolor in 2011 allowed Cubist to broaden its product range with a medication addressing constipation. At that time, the company anticipated that sales of its leading antibiotic, Cubicin, would surpass $1 billion annually.

In mid-2013, Cubist announced agreements to acquire both Trius Therapeutics and Optimer Pharmaceuticals for a combined sum near $1.6 billion, thereby strengthening its antibiotic development pipeline.

Leadership changes occurred in 2015 when Robert J. Perez took over as president and CEO from Michael Bonney.

By January 2015, Cubist had become a fully owned subsidiary of Merck & Co., integrating its biopharmaceutical portfolio within Merck’s operations.

Products

Cubist developed Cubicin (daptomycin) for injection, recognized as the inaugural antibiotic within the lipopeptide category. In 2011, the company resolved patent disputes with Teva Pharmaceutical Industries concerning Cubicin. That same year, it entered into a co-marketing collaboration with Optimer Pharmaceuticals for Optimer's Fidaxomicin/Dificid product, which generated annual revenues of $15 million.

The 2011 product pipeline at Cubist addressed infections caused by gram-negative bacteria, Clostridioides difficile, and respiratory syncytial virus. Its antibiotic Tedizolid received approval from the US Food and Drug Administration on June 20, 2014.