Cubist in agreement with AstraZeneca
US-based Cubist Pharmaceuticals has entered into a license agreement with AstraZeneca for the development and commercialisation of Cubicin (daptomycin for injection) in China and certain other countries in Asia, the Middle East and Africa that are not already covered by existing Cubicin international partnering agreements.
US-based Cubist Pharmaceuticals has entered into a license agreement with AstraZeneca for the development and commercialisation of Cubicin (daptomycin for injection) in China and certain other countries in Asia, the Middle East and Africa that are not already covered by existing Cubicin international partnering agreements.
In exchange for development and commercialisation rights, AstraZeneca has agreed to pay Cubist US$10.25m 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. The agreement does not include Japan, which is yet to be partnered.
'This agreement is another important milestone for Cubist in our efforts to fully commercialised our first in class cyclic lipopeptide, Cubicin,' said Mike Bonney, president and ceo of Cubist.
'China is a very important growth market for pharmaceuticals, in particular antibiotics such as CUBICIN. We are looking forward to our alliance with AstraZeneca, which has a long term presence and a rich history of success in China,' he continued.
'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,' said Bruno Angelici, executive vice president of international sales and marketing organisation at AstraZeneca.
'We are committed to working with the local medical community and regulatory agencies to ensure these products are used appropriately to benefit Chinese patients, Angelici added.