Updated on 12 March 2013
Under the terms of the agreement, Astellas will receive an upfront payment of $25 million, and sales of ceftolozane/tazobactam made in the newly-obtained territories will be counted towards the existing commercial milestone and royalty in terms of the original agreement. Cubist will fund the upfront payment with cash on hand.
"Today's agreement underscores our belief that ceftolozane/tazobactam has the potential to be an important therapy to combat certain serious Gram-negative bacterial infections," said Mr Michael Bonney, CEO, Cubist. "With ownership of the global rights to ceftolozane/tazobactam, Cubist is well positioned to continue advancing this promising product candidate and capture the drug's full potential around the world, if it is approved."