Cubist Continues Global Expansion With New International Headquarters In Zurich
By C. Rajan, contributing writer
Cubist Pharmaceuticals yesterday announced the official opening of its international headquarters in Zurich, Switzerland, which will complement Cubist’s corporate headquarters in Massachusetts, U.S.
Following a strong performance in 2013 with revenues of over $1.1 billion, the company’s international expansion is expected to boost its growing presence in the field of antibiotics development. Cubist’s international operations will focus on preparing for the launch of potential new antibiotics in Europe during 2015, and will be led by Patrick Vink, M.D., SVP President and General Manager of International Business at Cubist.
“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.”
Cubist is now the leading company developing novel antibiotic solutions for increasingly drug resistant infections. The company has committed to a goal of delivering at least four new antibiotics in support of the Infectious Diseases Society of America (IDSA) goal of 10 new antibiotics by 2020.
Most recently, Cubist’s MAA was accepted by the EMA for review for the ceftolozane/tazobactam antibiotic combination for the treatment of complicated urinary tract Infections and complicated intra-abdominal infections. The company’s Sivextro (tedizolid phosphate) for the treatment of adult acute bacterial skin and skin structure infections was also recently launched in the U.S., and the antibiotic is estimated to bring in annual sales of over $300 million. The company also has a blockbuster drug, Cubicin, which is a daily injection to treat Methicillin-resistant Staphylococcus Aureus (MRSA) infections that generates more than $1 billion.
According to Cubist, drug-resistant bacterial infections cause an estimated 25,000 deaths in the European Union and 23,000 deaths in the United States annually. To address the urgent need for new antibiotics, Cubist plans to spend upwards of $400 million on antibiotic R & D in 2014.
Along with its investment in R & D, Cubist also intends to increase its international employee base and will be creating new jobs in Zurich and throughout Switzerland in medical, regulatory, and commercial capacities, as well as other support functions.
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.”