Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) today announced the Company’s five-year strategic aspirations – Building Blocks of Growth – at its Investor Day at the NASDAQ Market Site. Cubist’s President and Chief Executive Officer Michael Bonney shared the Company’s five-year roadmap, including goals for top- and bottom-line growth, future pipeline developments, and cultural elements that will position Cubist to deliver long-term, sustainable growth.
As detailed at the Company’s Investor Day, by year-end 2017 Cubist expects to:
- Grow global revenue to $2 billion annually;
- Have four product candidates in late-stage clinical trials;
- Generate $700 million in non-GAAP annual adjusted operating income; and
- Continue to strengthen and develop the Company’s highly differentiated culture.
“Through our transformation over the past two years, Cubist has established itself as a global leader in the acute care/hospital environment. Our Building Blocks of Growth will help us build on this momentum as we look to deliver important new medicines for patients and drive long-term value for our customers and shareholders,” said Mr. Bonney. “The next five years represent an extraordinary time of opportunity for Cubist, and our entire team is excited to deliver on the Company’s very promising future.”
Grow Global Revenue to $2 BillionCubist plans to generate $2 billion in global annual revenue in 2017, driven largely by organic growth. To achieve this goal, the Company expects to:
- Drive CUBICIN® (daptomycin for injection) growth across the U.S. and around the world through its global partnerships. By year-end 2017, the Company expects CUBICIN will well-exceed $1 billion in U.S. sales alone;
- Expand the growth of ENTEREG® (alvimopan), which is expected to approach $100 million in sales by year-end 2017;
- Optimize its current late-stage pipeline, led by CXA-201, CB-315, and CB-5945;
- Build out its global commercial footprint in a targeted manner; and
- Pursue in-licensing, partnership, and/or M&A activity as part of its active, focused, and disciplined business development program.