This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cubist Pharmaceuticals Completes Acquisition Of Optimer Pharmaceuticals

Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) announced today that it has completed its acquisition of Optimer Pharmaceuticals, Inc. (NASDAQ: OPTR) for an aggregate upfront cash consideration of approximately $551 million. Optimer stockholders approved the merger agreement at a special meeting of stockholders held on October 23, 2013. Effective today, Optimer common stock will cease to be traded on the NASDAQ.

Cubist’s acquisition of Optimer follows the Company’s September 11, 2013 acquisition of Trius Therapeutics. Combined, Cubist expects the two acquisitions to add peak-year revenue of between $600 million and $1 billion and to be accretive to earnings in 2015.

The completion of these two transactions will also help Cubist accelerate its focus on the research, development, and commercialization of products for patients in the acute care/hospital setting. As part of this mission, Cubist will focus on driving its Building Blocks of Growth strategic goals through:
  • A strong and growing commercial foundation and revenue base that the Company expects will deliver over $1 billion in 2013 revenue, driven by three marketed products: CUBICIN® (daptomycin for injection), ENTEREG® (alvimopan), and DIFICID® (fidaxomicin);
  • An exciting late stage pipeline, including tedizolid phosphate, for which the Company has submitted a New Drug Application with the U.S. Food and Drug Administration, as well as ceftolozane/tazobactam, surotomycin, and bevenopran, all of which are in Phase 3 clinical trials; and
  • A growing, global commitment to public health through Cubist’s leadership in antibacterial R&D; Cubist hopes to deliver at least four of the Infectious Diseases Society of America’s goal of 10 new antibiotics by 2020.

“We are excited to complete this transaction and to welcome the Optimer team to Cubist,” said Michael Bonney, Chief Executive Officer of Cubist. “Over the past few months, we have dramatically strengthened our commitment to global public health by bolstering our leadership in the research and development of antibiotics to treat serious and life-threatening pathogens. In doing this, our team has demonstrated the creativity and prudent risk-taking required to drive significant shareholder value in today’s highly dynamic healthcare environment.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs