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news.Cubist Pharmaceuticals, which focuses on the research, development and commercialisation of pharmaceutical products that address unmet medical needs in the acute care environment, has reported total net revenues of $162.1m for the third quarter of 2010, an increase of 13% from $143.5m in the third quarter of 2009.
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The increase was attributable primarily to Cubist’s net sales of Cubicin (daptomycin for injection) in the US, which increased 12% to $154.5m in the third quarter of 2010 from $137.7m in the third quarter of 2009.
Cubist’s net product revenues from international sales of Cubicin for the third quarter of 2010 were $6m, an increase of 53% over the third quarter of 2009.
Net income on a GAAP basis was $31.2m, or $0.53 and $0.50 per basic and diluted share, respectively, as compared to $25.4m, or $0.44 and $0.42 per basic and diluted share, respectively, for the prior year period.
The Cubist clinical product pipeline currently consists of a Phase 2 program focused on the development of a novel cephalosporin to address certain serious infections caused by multi-drug resistant (MDR) Gram-negative organisms; and a Phase 2 program for the treatment of CDAD (Clostridium difficile-associated diarrhea).
Cubist is also working on several pre-clinical programs being developed to address areas of significant medical needs. These include an anti-infective program for the treatment of respiratory syncytial virus (RSV) in children, therapies to treat various serious bacterial infections, and agents to treat acute pain.