Cubist Pharmaceuticals Completes Acquisition of Trius Therapeutics
September 11 2013 - 4:30PM
Business Wire
Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) today announced that
it has completed the previously announced acquisition of Trius
Therapeutics, Inc. (NASDAQ: TSRX) for an aggregate upfront cash
consideration of approximately $704 million. Effective today, Trius
common stock will cease to be traded on the NASDAQ.
“We are very pleased to complete this acquisition and welcome
the Trius team to Cubist,” said Cubist Chief Executive Officer
Michael Bonney. “Trius is an excellent strategic fit, and its lead
product candidate, tedizolid phosphate, has the potential to be an
important new treatment in the fight against resistant infections.
The need for new treatments to combat drug resistant bacteria is
growing, and we will work diligently to bring this antibiotic
product candidate to market in order to help hospitals and their
patients combat these infections. This transaction is also an
important step towards achieving Cubist’s Building Blocks of Growth
and continuing our track record of driving shareholder value over
the long term.”
About Cubist
Cubist Pharmaceuticals, Inc. is a biopharmaceutical company
focused on the research, development, and commercialization of
pharmaceutical products that address significant unmet medical
needs in the acute care environment. Cubist is headquartered in
Lexington, Mass. Additional information can be found at Cubist’s
web site at www.cubist.com.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and other federal securities laws. Any statements contained herein
which do not describe historical facts, including but not limited
to, statements regarding: Cubist’s acquisition of Trius, including
the anticipated strategic benefits of the acquisition; the
therapeutic and commercial potential of tedizolid phosphate; and
our progress against our Building Blocks of Growth long-term goals,
are forward-looking statements which involve risks and
uncertainties that could cause actual results to differ materially
from those discussed in such forward-looking statements. Such risks
and uncertainties include: the ability of Cubist to successfully
integrate Trius’ operations and employees; the anticipated benefits
of the transaction may not be realized; risks related to drug
development and commercialization; the ability of Cubist to achieve
its Building Blocks of Growth long-range goals, including as a
result of Cubist’s ability to continue to grow revenues from the
sale of CUBICIN® and ENTEREG®, generic and other competition,
manufacturing issues, Cubist’s ability to successfully develop,
gain marketing approval for and commercially launch its product
candidates for their planned indications and on their expected
timelines, and Cubist’s ability to discover, in-license or acquire
new products and product candidates; and those additional factors
discussed in Cubist’s and Trius’ most recent Quarterly and Annual
Reports on Forms 10-Q and 10-K filed with the Securities and
Exchange Commission. Cubist and Trius caution investors not to
place considerable reliance on the forward-looking statements
contained in this press release. These forward-looking statements
speak only as of the date of this document, and Cubist and Trius
undertake no obligation to update or revise any of these
statements.
Cubist Pharmaceuticals, Inc.INVESTORS:Eileen C. McIntyre,
781-860-8533Vice President, Investor
Relationseileen.mcintyre@cubist.comorMEDIA:Julie DiCarlo,
781-860-8063Senior Director, Corporate
Communicationsjulie.dicarlo@cubist.com
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