Cubist Pharma Q4 Revenue Climbs 22% - Quick Facts

(RTTNews) - Cubist Pharmaceuticals, Inc. (CBST) Monday reported significant increase in revenues for the fourth quarter and full year, as CUBICIN achieved blockbuster status.

Total net revenues for the quarter were $299.7 million, up 22 percent from $245.9 million in the same quarter in 2012. On average, 19 analysts polled by Thomson Reuters expected revenues of $280.29 million.

The latest revenues included DIFICID (fidaxomicin) revenues since the completion of Cubist's acquisition of Optimer Pharmaceuticals Inc. on October 24, 2013.

U.S. CUBICIN net product revenues in the quarter increased 15 percent to $248.9 million from $216.0 million.

Full-year 2013 total net revenues were $1.1 billion, up 14 percent from $926.4 million in 2012. Wall Street expected revenues of $1.03 billion for the year.

Annual 2013 U.S. CUBICIN net product revenues climbed 12 percent to $908.0 million from $809.2 million in 2012.

Michael Bonney, Chief Executive Officer of Cubist. "CUBICIN's achievement of blockbuster status is a reminder of the critical need for safe and effective antibiotics around the world and underscores the potential of our pipeline advancing toward commercialization.''

The firm also issued an update on its pipeline. Cubist said in 2014 it is prioritizing its portfolio investments in a disciplined manner to optimize those assets with the highest near-term potential.