Cubist Announces Continued Global Expansion with Opening of International Headquarters in Zurich
September 18 2014 - 4:30AM
Business Wire
Company reinforces its commitment to global
public health with more investment in antibiotic R&D than any
company worldwide
With resistant bacterial infections resulting in an estimated
25,000 deaths in the European Union and 23,000 deaths in the United
States annually, the issues of rising antibiotic resistance and the
lack of treatment options have raised alarms with world leaders. As
the call to action grows louder, Cubist Pharmaceuticals, Inc.
(NASDAQ: CBST), the global leader in the discovery, development,
and commercialization of novel antibiotics, today announced the
official opening of its international headquarters in Zurich,
Switzerland, reinforcing its commitment to global public health.
Located in a growing biopharmaceutical hub in Switzerland, the
Company’s international operations complement the Cubist’s
corporate headquarters in Lexington, Massachusetts in the United
States.
To address the urgent need for new antibiotics, during 2014
Cubist expects to invest approximately USD 400M on antibiotic
R&D, and is 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 committed—nor better positioned—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
Dr. Vink. “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.”
Bruno Sauter, Deputy Minister of Department of Economy and
Labour of the Canton of Zurich, commented: “I am excited to welcome
Cubist to Zurich, and look forward to the Company’s support of our
commitment to create jobs and grow our innovation economy,
including in the healthcare area. Cubist’s focus on the vital need
to provide doctors and patients with new medicines to treat serious
and potentially life-threatening infections is a great example of
the type of mission-driven organizations we aim to attract to and
nurture here in Zurich.”
Cubist’s international expansion follows its strong performance
in 2013, when the Company generated full year total net revenues of
USD 1.1 billion. Cubist has increased its global employee base to
approximately 960, up 35% from 2012, when the Company introduced
the Building Blocks of Growth, its five-year strategic goals.
Approximately 3 out of every 4 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.
About CubistCubist Pharmaceuticals, Inc. is a global
biopharmaceutical company focused on the research, development, and
commercialization of pharmaceutical products that address
significant unmet medical needs in the acute care environment.
Cubist’s corporate headquarters is located in Lexington,
Massachusetts, United States with its international headquarters
located in Zurich, Switzerland. Additional information can be found
on the Company’s web sites: www.cubist.com and www.cubist.ch/.
Also, connect with Cubist on Twitter @cubistbiopharma and
@cubistcareers, LinkedIn, or YouTube.
To learn more about superbugs, the threat of resistance, and the
global response visit: http://www.cubist.com/superbugs.
Forward Looking StatementsThis press release contains
forward-looking statements. Any statements contained herein which
do not describe historical facts, including but not limited to,
statements regarding: our plans to expand internationally,
including our international hiring estimates, commitment to global
public health and ability to address the global battle against
superbugs; our Building Blocks of Growth five-year goals through
2017; the level of our financial and personnel commitments towards
antibiotic research, development and commercialization; expected
timing for our launching potential new antibiotics in Europe; our
commitment and ability to lead the battle against superbugs; and
the therapeutic potential of our antibiotic product candidates, are
forward-looking statements which involve risks and uncertainties
that could cause actual results to differ materially from those
discussed in such forward-looking statements. Such risks and
uncertainties include, among others: risks related to drug
development and commercialization; our ability to achieve our
strategic goals, including as a result of our ability to continue
to grow revenues from the sale of our products, generic and other
competition, manufacturing issues, our ability to successfully
develop, gain marketing approval for and commercially launch our
product candidates for their planned indications and on their
expected timelines, and our ability to discover, in-license or
acquire new products and product candidates; regulatory
developments in Europe and other countries, including the risk that
the European Commission may not approve our marketing authorization
applications; the strength of, and our ability to successfully
obtain, maintain and enforce intellectual property protecting our
products and product candidates; the fact that drug discovery and
development is complex, time consuming, expensive and fraught with
a high risk of failure; and those additional factors discussed in
our most recent annual report on Form 10-K and subsequent quarterly
reports on Form 10-Q filed with the Securities and Exchange
Commission and available at www.sec.gov. We caution investors not
to place considerable reliance on the forward-looking statements
contained in this press release. These forward-looking statements
speak only as of the date of this document, and we undertake no
obligation to update or revise any of these statements.
INVESTORS:Cubist Pharmaceuticals,
Inc.Eileen C. McIntyre, 781-860-8533Vice President, Investor
Relationseileen.mcintyre@cubist.comorMEDIA:U.S. Media:Cubist Pharmaceuticals, Inc.Julie
DiCarlo, 781-860-8063Senior Director, Corporate
Communicationsjulie.dicarlo@cubist.comorEurope media:Weber
ShandwickHarriet Chanarin, +44 (0)20 7 067
0401hchanarin@webershandwick.comorSwitzerland media:Weber
ShandwickWalter Bruderer, +41 (0) 22 879 85
19wbruderer@webershandwick.com