Cubist Settles Key Litigation

4/5/11

Lexington, MA-based Cubist Pharmaceuticals (NASDAQ:CBST) said late yesterday afternoon that it has settled patent litigation related to its only marketed drug, the antibiotic daptomycin (Cubicin), with Teva Pharmaceutical. The companies’ agreement enables Teva to market a generic version of the antibiotic in the U.S. as early as December 24, 2017 under a license from Cubist, which will also be Teva’s supplier of the product for the U.S. market. Teva has agreed to drop its prior claims that two patents on the Cubist drug were unenforceable. This agreement effectively clears a cloud that has been hanging over Cubist since February 2009, when the company announced that Teva had informed the company that it was pursuing approval of a generic version of its key antibiotic product years ahead of when patents on the drug were due to expire.

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