Cubist Pharmaceuticals, Inc. Licenses Rights For Development And Commercialization Of CUBICIN In China To AstraZeneca PLC
LEXINGTON, Mass.--(BUSINESS WIRE)--Cubist Pharmaceuticals, Inc. (NASDAQ: CBST) today announced that it has entered into a license agreement with AstraZeneca for the development and commercialization of 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.
In exchange for development and commercialization 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.