Cubist Pharmaceuticals Plans $400 Million in Antibiotic R&DBy
Cubist Pharmaceuticals Inc. has opened international headquarters in Zurich, Switzerland to complement the company’s corporate headquarters in Lexington, Massachusetts. The company also has announced plans to invest $400 million on antibiotic R&D and focusing its late-stage pipeline on addressing serious and potentially life-threatening healthcare-acquired bacterial infections.
Led by Patrick Vink, M.D., senior vice president and general manager of international business at Cubist, the company's international operations will focus on preparing for the launch of potential new antibiotics in Europe during 2015.
“Dangerous superbugs know no geographic boundaries. Cubist has never been more committedâ€”nor better positionedâ€”to lead the battle against superbugs. We are one of the few companies globally to take on the challenge of antibiotic resistance, and this expansion enables us to continue to address the growing medical need,” said Vink, in a company statement. “We selected Zurich for the location of our international headquarters due to its proximity to other markets, access to top talent, and stable business climate, as well as its position as a thriving and growing biopharmaceutical hub.”
In 2013, Cubist generated full-year total net revenues of $1.1 billion and increased its global employee base to approximately 960, up 35% from 2012. Approximately three out of every four employees at Cubist are focused on the research, development, commercialization, and support of antibiotics. The company anticipates a significant employee presence internationally and expects to have around 200 internationally-based employees, of which approximately 50 will be based in Zurich. Cubist is focused on creating new jobs in Zurich and throughout Switzerland, including in medical, regulatory, and commercial capacities, as well as other support functions.
Source: Cubist Pharmaceuticals