Cubist Pharmaceuticals reports total revenues for fourth-quarter and full-year 2009

Jan 11 2010

Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) today announced total revenues for both the fourth quarter and full year ended December 31, 2009.

Fourth Quarter and Full Year Highlights:

• Full year 2009 U.S. CUBICIN® (daptomycin for injection) net product revenues of $524.0 million
• Fourth quarter 2009 U.S. CUBICIN net product revenues of $147.8 million

Fourth quarter 2009 U.S. CUBICIN net product revenues of $147.8 million (unaudited) represents an increase of 23%, or $27.7 million, from fourth quarter 2008 U.S. CUBICIN net product revenues. Full year 2009 U.S. CUBICIN net product revenues of $524.0 million (unaudited) represents an increase of 26%, or $109.3 million, from full year 2008 U.S. CUBICIN net product revenues. Cubist’s share of full year 2009 international net product revenues was $13.8 million (unaudited). This represents an increase of 86%, or $6.4 million, from full year 2008. Service revenues for the full year 2009 were $22.5 million (unaudited), an increase of 139%, or $13.1 million, from 2008 and relate to Cubist’s promotion and other activities in the U.S. with respect to MERREM® I.V. (meropenem for injection).

Michael Bonney, President and CEO of Cubist said, “In the midst of a deep recession, which has impacted the growth of many companies and stunted economic growth, Cubist has had another strong year supported by the performance of CUBICIN. That financial strength has allowed us to add to our pipeline and to advance the clinical development of multiple programs intended to address large unmet medical needs for acutely ill patients.”