Cubist’s Q2 Sales Revenue Up 28%

Cubist Pharmaceuticals has reported an increase in total sales revenue by 28% for the second quarter of 2009 to $130.8 million, as compared to $101.8 million in the second quarter of 2008.

The company said that this increase was attributable primarily to net sales of Cubicin, which increased 27% to $126.1 million in the second quarter of 2009, from $99.4 million in the second quarter of 2008.

The company has reported a net income of $23.8 million for the second quarter of 2009, as compared to a net loss of $1.3 million for the second quarter ended June 30, 2008.

Cubist has reported that their non-GAAP net income for the second quarter ended June 30, 2009 was $34.6 million, which represents an increase of $12.3 million in non-GAAP net income compared to the same period in 2008.

Michael Bonney, president and CEO of Cubist, said: “In a time of continued economic uncertainty, Cubist has again delivered a quarter of strong performance, and made further progress against our strategic goals. Cubicin has now been used in the treatment of more than an estimated 750,000 patients with serious and sometimes life-threatening infections. Our continued success with Cubicin also is enabling us to progress four clinical candidates addressing unmet medical need for seriously ill patients.