Thursday, August 1, 2013

Cubist does a double whammy - Acquires Optimer and Trius

Earlier this week, Cubist announced that it would be buying two other antibiotics developers, Trius Therapeutics and Optimer Pharmaceuticals. Cubist is paying an initial $707mm in cash for Trius, with an additional $111mm in contingent value rights (CVRs) - approximately $2.00 per share more - payable in the event that Trius's lead drug candidate, tedizolid phosphate, generates over $135mm in sales in 2016. For Optimer, Cubist is paying an initial $535mm in cash, with additional CVRs amounting to $266mm payable if Optimer's main marketed product, fidaxomicin, generates over $300mm in cumulative net sales between end-July 2013 and end-2015.

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