AstraZeneca Licenses Rights for the Development and Commercialisation of CUBICIN® in China
4 December 2006 - AstraZeneca today announced that it has entered into a license agreement with Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) for the development and commercialisation of the antibiotic CUBICIN® (daptomycin for injection) in China and certain other countries in Asia, the Middle East and Africa not covered by existing CUBICIN international partnering agreements. The agreement does not include Japan, which is yet to be partnered. CUBICIN is the first antibiotic in a new class of antiinfectives called lipopeptides.
In exchange for development and commercialisation rights, AstraZeneca has agreed to pay Cubist $10.25 million cash upfront. In addition, Cubist will receive payments on reaching regulatory and sales milestones. AstraZeneca will pay Cubist an undisclosed price for the supply of CUBICIN vials to be sold in the licensed territory.
"As the leading ethical pharmaceutical company in China, AstraZeneca is strongly committed to investing in new and innovative products for China”, said Bruno Angelici, Executive Vice President, International Sales and Marketing Organisation (ISMO) of AstraZeneca PLC. “We believe CUBICIN will address an area of significant unmet need, and will bring a novel antibiotic to patients with serious infections, in an area where resistance to existing antibiotics is increasing. We are committed to working with the local medical community and regulatory agencies to ensure these products are used appropriately to benefit Chinese patients.”
“This agreement is another important milestone for Cubist in our efforts to fully commercialise our first in class cyclic lipopeptide, CUBICIN” said Mike Bonney, President and CEO of Cubist. “China is a very important growth market for pharmaceuticals. CUBICIN represents an important new medical advance in patient care and we are looking forward to our alliance with AstraZeneca, which has a long term presence and a rich history of success in China.”
4th December 2006
About CUBICINÒ (daptomycin for injection)
CUBICIN® (daptomycin for injection), is the first antibiotic in a new class of antiinfectives called lipopeptides. CUBICIN is currently the only once-daily bactericidal antibiotic approved in the U.S. indicated for the treatment of complicated skin and skin structure infections caused by susceptible strains of the following Gram-positive micro organisms: Staphylococcus aureus (including methicillin-resistant strains), Streptococcus pyogenes, S. agalactiae, S. dysgalactiae subsp equisimilis and Enterococcus faecalis (vancomycin-susceptible strains only). CUBICIN is also approved in the U.S. as therapy for blood stream infections including right sided endocarditis, caused by S. aureus.
About AstraZeneca China
AstraZeneca is a major international healthcare business engaged in research, development, manufacturing and marketing of prescription pharmaceuticals and supplier for healthcare services. AstraZeneca is one of the world’s leading pharmaceutical companies with healthcare sales of US $23.95 billion and is a leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection product sales. AstraZeneca China has its headquarters in Shanghai, with branch offices in more than 20 cities across China. The manufacturing plant located in Wuxi, Jiangsu province, was inaugurated in 2001. In May 2006, the company announced an investment of US $100 million for R&D in China over the next three years, focusing on the benefits and value of innovative medicines for Chinese patients, demonstrating the company’s mission of ‘In China, for China’. For more information please visit: www.astrazeneca.com.cn
Cubist Pharmaceuticals, Inc. is a biopharmaceutical company focused on the research, development and commercialisation of pharmaceutical products that address unmet medical needs in the acute care environment. Cubist is headquartered in Lexington, MA. Additional information can be found at Cubist’s web site at www.cubist.com.
- Contact Information
- Edel McCaffrey
- Media Enquiries
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.