Biopharmaceutical company, Cubist Pharmaceuticals, Inc. has completed acquisition of Trius Therapeutics, Inc. for an aggregate upfront cash consideration of approximately $704 million. Effective today, Trius common stock will cease to be traded on the NASDAQ.
Michael Bonney, chief executive officer, Cubist, said, “We are very pleased to complete this acquisition and welcome the Trius team to Cubist.”
Bonney further added, “Trius is an excellent strategic fit, and its lead product candidate, tedizolid phosphate, has the potential to be an important new treatment in the fight against resistant infections. The need for new treatments to combat drug resistant bacteria is growing, and we will work diligently to bring this antibiotic product candidate to market in order to help hospitals and their patients combat these infections. This transaction is also an important step towards achieving Cubist’s Building Blocks of Growth and continuing our track record of driving shareholder value over the long term.”
Cubist Pharmaceuticals, Inc. is a biopharmaceutical company focused on the research, development, and commercialization of pharmaceutical products that address significant unmet medical needs in the acute care environment.