Public Relations
Cubist Pharmaceuticals Acquires Rights to Oral Ceftriaxone from IHMA
First Orally Active Formulation of the World's Largest-Selling IV Antibiotic, Rocephin(R)
CAMBRIDGE, Mass., Nov. 27 /PRNewswire/ -- Cubist Pharmaceuticals, Inc. (Nasdaq: CBST) today announced that it has acquired worldwide rights to oral ceftriaxone from International Health Management Associates, Inc. (IHMA), a privately held company outside Chicago. This formulation is the first orally active version of the largest-selling intravenous (IV) antibiotic worldwide, Roche's Rocephin(R), which had sales of over $1.2 billion in 1999. Terms of the acquisition were not disclosed.
IV ceftriaxone has been successfully and safely prescribed for over 15 years in both adults and children. The drug is a third-generation cephalosporin and has demonstrated a broad spectrum of bactericidal antimicrobial activity against Gram-positive and Gram-negative bacteria. These organisms are responsible for the majority of community-based infections, which include upper and lower respiratory tract infections (including otitis media, sinusitis, bronchitis and community-acquired pneumonia) and skin and soft tissue infections. These infections result in nearly 80 million treated patients annually in the United States. To date, ceftriaxone has been primarily used to treat hospital in-patients due to the lack of an oral version. If successfully developed, Cubist believes that an oral formulation could greatly expand the utility and revenue potential of ceftriaxone through community-based prescribing. In addition, the Company believes oral ceftriaxone could also be used for the continuation of parenteral antibiotic therapy (step-down therapy). Step-down therapy provides multiple benefits: convenience and cost savings of an oral therapy versus parenteral, potential earlier hospital discharge and associated healthcare cost savings, and increased physician confidence in an optimal therapeutic outcome given that a discharged patient is receiving the same therapy taken intravenously in the hospital setting.
"We are extremely pleased to add oral ceftriaxone to our growing product portfolio," said Scott M. Rocklage, Ph.D., Chairman, President & CEO of Cubist. "We believe this product provides additional evidence of our commitment to expand our development pipeline through opportunistic acquisitions in the antiinfective space. In addition, oral ceftriaxone complements our current development product, Cidecin(TM) (daptomycin for injection), providing broad-spectrum activity and an oral antibiotic formulation of a proven successful parenteral drug. We are encouraged by the positive pre-clinical results achieved to date and anticipate further development studies during 2001."
Jack Johnson, President & CEO of IHMA commented, "Oral formulations of ceftriaxone for adults and children have resulted from breakthroughs in a research collaboration entered into last year with Seung-Ho 'Chris' Choi, Ph.D., of MC Technologies, Inc. (a privately held company in Salt Lake City, Utah). We are all pleased that Cubist has recognized the value of this research and will now pursue further development of products arising from our expanded research efforts."
Cubist Pharmaceuticals is focused on becoming a global leader in the research, development and commercialization of novel antimicrobial drugs to combat serious and life-threatening bacterial and fungal infections. Cubist is evaluating the safety and efficacy of Cidecin(TM) (daptomycin for injection) in the EDGE(TM) (Evaluation of Daptomycin in Gram-positive Entities) clinical trial program and is engaged in multiple, strategic partnerships, including Novartis Pharma AG, Merck & Co. and the Schering- Plough Research Institute for the discovery and development of novel antiinfectives. Cubist recently completed the acquisition of TerraGen Discovery Inc., a private, natural products discovery company with operations in Vancouver, BC, Canada and Slough, UK.
Cubist Safeharbor Statement
Statements contained herein that are not historical fact may be forward- looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements made by the Company. These factors include, but are not limited to: (i) the Company's ability to successfully complete product research and development, including pre-clinical and clinical studies and commercialization; (ii) the Company's ability to obtain required governmental approvals; (iii) the Company's ability to attract and/or maintain manufacturing, sales, distribution and marketing partners; and (iv) the Company's ability to develop and commercialize its products before its competitors. Additional factors that would cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in the Company's filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in the Company's Annual Report on Form 10-K/A (file No. 000-21379) filed on April 3, 2000.
For additional information, visit the Company's Internet web site at http://www.cubist.com or http://www.noonanrusso.com.
Contacts:
Cubist Pharmaceuticals, Inc.
Jennifer LaVin
Senior Director, Corporate Communications
(617) 576-4258
jlavin@cubist.com
Noonan/Russo Communications
Renee Connolly - media
(212) 696-4455 ext. 227
renee@noonanrusso.com
Source:
Cubist Pharmaceuticals, Inc.
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Contact:
Jennifer LaVin, Senior Director, CorporateCommunications of Cubist Pharmaceuticals, Inc., 617-576-4258, jlavin@cubist.com, or Renee Connolly - media of Noonan/RussoCommunications, 212-696-4455 ext. 227, renee@noonanrusso.com
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CUBELOGO CUBIST PHARMACEUTICALS LOGO CubistPharmeceuticals Logo. (PRNewsFoto)[AG] CAMBRIDGE, MA USA 07/17/2000