Cubist Agrees to Promote AstraZeneca Antibiotic
Luke Timmerman7/2/08
Cubist Pharmaceuticals, the Lexington, MA-based maker of the Cubicin antibiotic, said today it has agreed to promote Merrem, another intravenous antibiotic drug made by AstraZeneca. Cubist, (NASDAQ: CBST) will receive a minimum of $20 million a year in revenue under the deal, and the figure could go higher based on Merrem sales, the company said. “Cubist is better leveraging its commercialization resources and reinvesting the proceeds into its future,” said Thomas Russo, an analyst with Robert W. Baird, in a note to clients today.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
