Former type
|
Subsidiary |
---|---|
Traded as | Formerly NASDAQ: CBST |
Industry | Pharmaceuticals (Biopharmaceuticals & Biotherapeutics) |
Founded | 1992 |
Defunct | 2015 |
Headquarters | Lexington, Massachusetts |
Key people
|
Robert J. Perez, President, CEO; |
Products | Product Pipeline |
Revenue | $926.4 million USD (2012) |
Parent | Merck & Co. |
Website | www.cubist.com |
Cubist Pharmaceuticals was a U.S. biopharmaceutical company with activities spanning from research and development to commercialization of pharmaceutical products. Its main products target pathogens like MRSA.
Cubist was one of the few firms that continued to research in antibiotics while larger pharmaceutical companies have abandoned such research. The company employs 638 people, with 370 in their headquarters in Lexington, MA. As of 2011, the company’s headquarters are under expansion and is expected to occupy 373,000 sq ft (34,700 m) in Lexington, MA. On 8 December 2014, Merck & Co. acquired Cubist for $102 per share in cash ($8.4 billion) as entree to the market for drugs that can combat superbugs.
Cubist was founded in May 1992 by John K. Clarke, Paul R. Schimmel, Ph.D. and Barry Bloom, Ph.D, all of whom were also directors. Cubist appeared on Fortune 2010’s List of fastest growing companies, and was named to the 2010 Deloitte Technology Fast 500. In 2006 it had the 19th highest sales among American based biotechnology companies.
In 2011, the company acquired Adolor, maker of a drug for treatment of constipation.
Cubist had an ambitious growth plan laid out for the 2012-2017 quinquennium. Under this plan, the company was expected to reach 2B dollars in sales and have 4 new drugs in late stage development by 2017. As a part of this plan, sales of its flagship drug Cubicin were expected to grow to more than 1B dollars per year.
In July 2013, Cubist Pharmaceuticals agreed to purchase Trius Therapeutics and Optimer Pharmaceuticals for around $1.6 billion.
In 2014, succeeding Michael Bonney as President, Robert J. Perez, was announced to take leadership on January 1, 2015. In January 2015 Cubist Pharmaceuticals became a wholly owned subsidiary of Merck & Co.
The company markets Cubicin (daptomycin) for injection, the first antibiotic in a class of anti-infectives called lipopeptides. In 2011, Cubist settled a patent litigation with Teva Pharmaceutical Industries regarding Cubicin. In April 2011 it reached a deal with Optimer Pharmaceuticals in which its class of bacterium fighting drugs will be co marketed with Optimer's Fidaxomicin/Dificid (for $15 million per year). Optimer chose Cubist because according to its CEO, "Cubist has a proven track record and well established relations with all stakeholders involved in the antibiotics space".
In 2011, its product pipeline focused on gram-negative bacterial infections, Clostridium difficile-associated diarrhea, and respiratory syncytial virus.
Tedizolid was approved by the US Food and Drug Administration on June 20, 2014.
Coordinates: 42°25′25.2″N 71°14′32.9″W / 42.423667°N 71.242472°W / 42.423667; -71.242472
2014-12-22 | Reiterated Rating | Needham & Company LLC | Hold | |
2014-12-09 | Downgrade | Oppenheimer | Outperform to Market Perform | |
2014-12-09 | Downgrade | Gabelli | Buy to Sell | |
2014-12-09 | Downgrade | RBC Capital | Outperform to Sector Perform | $84.00 to $102.00 |
2014-12-09 | Downgrade | Mizuho | Buy to Neutral | $97.00 to $102.00 |
2014-12-09 | Downgrade | Oppenheimer Holdings Inc. | Outperform to Market Perform | |
2014-12-09 | Downgrade | Royal Bank Of Canada | Outperform to Sector Perform | $84.00 to $102.00 |
2014-12-08 | Downgrade | Jefferies Group | Buy to Hold | $88.00 to $102.00 |
2014-12-08 | Downgrade | SunTrust | Buy to Neutral | |
2014-12-08 | Downgrade | SunTrust Banks Inc. | Buy to Neutral | |
2014-11-20 | Downgrade | Credit Suisse | Outperform to Neutral | $77.00 |
2014-11-20 | Downgrade | Credit Suisse Group AG | Outperform to Neutral | $77.00 |
2014-11-04 | Initiated Coverage | Wedbush | Neutral | $70.00 |
2014-11-03 | Initiated Coverage | SunTrust | Buy | $88.00 |
2014-07-23 | Downgrade | JMP Securities | Outperform to Market Perform | $80.00 |
2014-06-23 | Reiterated Rating | Aegis | Positive | |
2014-06-23 | Reiterated Rating | Jefferies Group | Buy | $87.00 to $88.00 |
2014-06-20 | Initiated Coverage | Gabelli | Buy | |
2014-04-28 | Upgrade | Ned Davis Research | Sell to Neutral | |
2014-04-21 | Boost Price Target | Leerink Swann | Outperform | $80.00 to $90.00 |
2014-04-01 | Reiterated Rating | Aegis | Buy | |
2014-03-27 | Boost Price Target | Cantor Fitzgerald | $73.00 | |
2014-03-12 | Boost Price Target | Mizuho | Buy | $81.00 to $97.00 |
2014-01-24 | Boost Price Target | Mizuho | Buy | $77.00 to $81.00 |
2014-01-24 | Reiterated | Aegis Capital | Buy | $70 to $85 |
2014-01-24 | Reiterated Rating | Credit Suisse | Outperform | $77.00 |
2014-01-24 | Boost Price Target | Aegis | Buy | $70.00 to $85.00 |
2014-01-24 | Boost Price Target | Cantor Fitzgerald | $65.00 to $70.00 | |
2014-01-14 | Boost Price Target | Jefferies Group | $82.00 to $85.00 | |
2013-12-20 | Boost Price Target | RBC Capital | Outperform | $78.00 to $82.00 |
2013-12-17 | Boost Price Target | Cantor Fitzgerald | $63.00 to $65.00 | |
2013-12-17 | Initiated Coverage | JMP Securities | Outperform | $80.00 |
2013-11-26 | Boost Price Target | Leerink Swann | $76.00 to $80.00 | |
2013-11-26 | Boost Price Target | Jefferies Group | $76.00 to $82.00 | |
2013-11-13 | Initiated Coverage | Morgan Stanley | Overweight | $85.00 |
2013-10-24 | Lower Price Target | Cantor Fitzgerald | Hold | $72.00 to $63.00 |
2013-10-24 | Downgrade | Wedbush | Outperform to Neutral | $65.00 |
2013-10-23 | Reiterated Rating | Jefferies Group | Buy to In-Line | $70.00 to $76.00 |
2013-10-23 | Reiterated Rating | Aegis | Buy | |
2013-10-09 | Upgrade | Mizuho | Neutral to Buy | $50.00 to $77.00 |
2013-10-09 | Initiated Coverage | Oppenheimer | Outperform | $81.00 |
2013-09-27 | Boost Price Target | Cantor Fitzgerald | Hold | $65.00 to $72.00 |
2013-09-26 | Upgrade | Leerink Swann | Market Perform to Outperform | $57.00 to $76.00 |
2013-09-17 | Boost Price Target | RBC Capital | Outperform | $64.00 to $78.00 |
2013-08-01 | Upgrade | Aegis Capital | Hold to Buy | $56 to $70 |
2013-05-21 | Upgrade | Cantor Fitzgerald | Sell to Hold | $40 to $49 |
2013-05-21 | Reiterated | RBC Capital Mkts | Outperform | $53 to $63 |
2013-04-03 | Downgrade | Cantor Fitzgerald | Hold to Sell | $38 to $40 |
2013-02-06 | Initiated | Aegis Capital | Hold | $45 |
2013-01-24 | Upgrade | Cantor Fitzgerald | Sell to Hold | $37 to $38 |
2012-10-25 | Initiated | Cantor Fitzgerald | Sell | $37 |
2011-10-20 | Reiterated | Oppenheimer | Outperform | $44 to $46 |
2014-12-22 | Reiterated Rating | Needham & Company LLC | Hold | |
2014-12-09 | Downgrade | Oppenheimer | Outperform to Market Perform | |
2014-12-09 | Downgrade | Gabelli | Buy to Sell | |
2014-12-09 | Downgrade | RBC Capital | Outperform to Sector Perform | $84.00 to $102.00 |
2014-12-09 | Downgrade | Mizuho | Buy to Neutral | $97.00 to $102.00 |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In CBST 0 funds of 2213 total. Show all
Fund name | Ticker shares |
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Name Relationship | Total Shares | Holding stocks |
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Rosenberg Martin | 0.01% (6005) | CBST / |
SINGLETON J MATTHEW | 0.01% (4972) | CBST / VKTX / |