Cubist Pharmaceuticals (CBST) shares are trading higher today after it said it has made a license agreement with Teva Pharmaceuticals (NYSE:TEVA) over Cubist’s Cubicin drug.
Under terms of the agreement, Teva may launch its generic daptomycin product in the U.S. on June 24, 2018 if Cubist obtains a 6 month extension of marketing exclusivity.
Otherwise, Teva may launch a generic on December 24, 2017.
Cubicin, which is daptomycin for injection, is approved in the U.S. to treat staphylococcus aureus bloodstream infections including right-side endocarditis.
Questcor Pharmaceuticals (QCOR) reported preliminary results for its first fiscal quarter ended March 31.
Gross sales were $48.6 million, with operating expenses estimated at $16 million to $18 million.
The company will release full financial results for its first quarter on April 26.
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