Cubist Pharmaceuticals, the Lexington, MA-based maker of the Cubicin antibiotic, said today it has agreed to promote Merrem, another intravenous antibiotic drug made by AstraZeneca. Cubist, (NASDAQ: [[ticker:CBST]]) will receive a minimum of $20 million a year in revenue under the deal, and the figure could go higher based on Merrem sales, the company said. “Cubist is better leveraging its commercialization resources and reinvesting the proceeds into its future,” said Thomas Russo, an analyst with Robert W. Baird, in a note to clients today.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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