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Biotechnology M&A image Biotechnology M&A » By The Online Investor Staff, updated Tue., Apr. 20, 3:57 AM Recent mergers and acquisitions in the Biotechnology M&A category.

Slide #55. Cubist Pharmaceuticals Optimer Pharmaceuticals

Acquirer: Cubist Pharmaceuticals (CBST)
Acquiree: Optimer Pharmaceuticals (OPTR)
Details: Cubist Pharmaceuticals, Inc. (NASDAQ:CBST) and Optimer Pharmaceuticals, Inc. (NASDAQ:OPTR) today announced that they have signed a merger agreement under which Cubist will acquire all of the outstanding shares of Optimer common stock for $10.75 per share in cash, or approximately $535 million on a fully diluted basis. In addition to the upfront cash payment, each stockholder of Optimer will receive a Contingent Value Right (CVR), which is expected to be publicly traded, entitling the holder to receive an additional one-time cash payment of up to $5.00 for each share they own if certain net sales of DIFICID(fidaxomicin) are achieved, or a total transaction value of up to $801 million on a fully diluted basis. The transaction has been approved by the Boards of Directors of both companies. Cubist will host a conference call and webcast today at 6:00 p.m. ET (details below).

Cubist Pharmaceuticals is a biopharmaceutical company focused on the research, development and commercialization of therapies to treat patients who are hospitalized or are being treated in other acute care settings. Co. has three marketed products: CUBICIN® for the treatment of certain Gram-positive bacteria and for certain bloodstream infections; DIFICID® for the treatment of Clostridium difficile-associated diarrhea (CDAD); and ENTEREG® to accelerate gastrointestinal recovery. Co. has four late-stage product candidates: Tedizolid phosphate and Ceftolozane/tazobactam for treatment of Gram-positive bacterial infections; Surotomycin for CDAD; and Bevenopran for opioid-induced constipation.

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Cubist Pharmaceuticals is a biopharmaceutical company focused on the research, development and commercialization of therapies to treat patients who are hospitalized or are being treated in other acute care settings. Co. has three marketed products: CUBICIN® for the treatment of certain Gram-positive bacteria and for certain bloodstream infections; DIFICID® for the treatment of Clostridium difficile-associated diarrhea (CDAD); and ENTEREG® to accelerate gastrointestinal recovery. Co. has four late-stage product candidates: Tedizolid phosphate and Ceftolozane/tazobactam for treatment of Gram-positive bacterial infections; Surotomycin for CDAD; and Bevenopran for opioid-induced constipation.

Open the OPTR Page at The Online Investor »

Company Name: 
Cubist Pharmaceuticals Inc.
Website: 
www.cubist.com
Sector: 
Biotechnology
Company Name: 
Optimer Pharmaceuticals Inc
Website: 
www.optimerpharma.com
Sector: 
Drugs & Pharmaceuticals
 

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