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Biotech / Medical : CUBIST PHARMACEUTICALS (CBST) -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (123)	10/20/2011 1:01:19 AM
From: richardred	Respond to of 252

Cubist says 3Q profit falls, but raises outlookCubist Pharma says 3rd-quarter profit fell on greater costs, but raises sales estimates On Wednesday October 19, 2011, 6:01 pm EDT LEXINGTON, Mass. (AP) -- Cubist Pharmaceuticals Inc. said Wednesday its profit dropped 22 percent in the third quarter, but it raised expectations for sales of its antibiotic Cubicin. The company said its profit declined to $24.2 million, or 33 cents per share, from $31.2 million, or 50 cents per share. Cubist spent more money on research and development of its drug candidates and also reported greater expenses related to sales of Cubicin and Dificid, a drug it helps promote. Its revenue picked up 24 percent, to $201.7 million from $162.1 million. Analysts expected a profit of 32 cents per share and $182.7 million in revenue, according to FactSet. The company's shares gained $2.83, or 7.8 percent, to $39.25 in aftermarket trading. During the day the shares slipped 65 cents and closed at $36.42. Cubist said revenue from Cubicin grew 21 percent to $186.4 million. The drug is used to treat severe skin and bloodstream infections. The company also received $3 million in service revenue for marketing Dificid, a treatment for Clostridium difficile infection. Cubist helps Optimer Pharmaceuticals Inc. sell the drug in the U.S. Cubist is also studying its own treatment for Clostridium difficile, which is an intestinal infection that can cause symptoms ranging from diarrhea to potentially life-threatening inflammation of the colon. Cubist said it now expects annual revenue of $740 million to $745 million in 2011, up from $700 million to $715 million. Analysts expect $713.3 million in revenue on average. finance.yahoo.com