Cubist Pharmaceuticals Inc.
's (
CBST
) total preliminary net revenues for the fourth quarter of 2011
climbed 30% to $210.3 million driven by strong sales of its
antibiotic injection, Cubicin (daptomycin). Cubicin is marketed in
the US and several other markets for the treatment of severe
bacterial infections of the skin and bloodstream.
Preliminary fourth quarter revenues beat the Zacks Consensus
Estimate of $205.0 million. Apart from revenues from Cubicin sales,
total revenues at Cubist Pharma comprise service revenues
pertaining to the company's agreement with
Optimer Pharmaceuticals Inc.
(
OPTR
) to co-promote Dificid in the US for C. difficile acquired
diarrhea and other revenues. Detailed fourth quarter and full year
2011 results are scheduled on January 19, 2012.
Cubicin sales shot up 25% to $200.9 million in the final quarter
of 2011. Most of the sales came from the US market ($190.1 million,
up 23%). Cubicin also fared well in international markets with
sales of the drug rising 71% to $10.8 million.
We note that the preliminary sales figures do not include data
from the sales of Entereg, added to Cubist Pharma's portfolio
following the acquisition of Adolor Corporation in December 2011.
Entereg is marketed to expedite the time needed for upper and lower
gastrointestinal recovery following partial large or small bowel
resection surgery with primary anastomosis.
For full year 2011, total preliminary net revenues at Cubist
Pharma climbed 18% to $751.4 million again driven by strong Cubicin
sales. Preliminary 2011 revenues surpassed the Zacks Consensus
Estimate of $746.0 million. Cubicin sales climbed 18% in 2011 to
$735.5 million. The drug fared well in the US (up 17% to $699.8
million) as well as internationally (up 45% to $36.7 million).
Our Recommendation
Currently we have a Neutral recommendation on Cubist Pharma. The
stock carries a Zacks #5 Rank (Strong Sell rating) in the
short-run.
CUBIST PHARM (
CBST
): Free Stock Analysis Report
OPTIMER PHARMAC (
OPTR
): Free Stock Analysis Report
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