LEXINGTON, Mass.--()--For the fifth consecutive year, Cubist Pharmaceuticals, Inc. has been named to the Globe 100 annual list, the Boston Globeâ€™s annual ranking of the 100 top-performing public companies headquartered in Massachusetts. Cubist was ranked number six overall and was named the top performing biotech company. The 2013 list was published in the Globe 100 Magazine in the Sunday Boston Globe on May 19.
“As outlined in 2012, our Building Blocks of Growth strategic initiative provides a terrific roadmap for us to achieve continued growth in the Commonwealth and improve treatment options in areas of high unmet medical need. We look forward to many more years as a Globe 100 company.”
Cubist, a leading biopharmaceutical company focused on the research, development, and commercialization of pharmaceutical products that address significant unmet medical needs in the acute care environment, is headquartered in Lexington, Mass. and employs approximately 780 people. Total net revenues in 2012 grew 23 percent to $926.4 million compared to $754.0 million in 2011.
"Inclusion in the Globe 100 represents an achievement our employees and shareholders should be very proud of as it acknowledges the value of our efforts to deliver breakthrough treatments for patients in an acute care setting,â€??? said Michael Bonney, chief executive officer of Cubist. â€œAs outlined in 2012, our Building Blocks of Growth strategic initiative provides a terrific roadmap for us to achieve continued growth in the Commonwealth and improve treatment options in areas of high unmet medical need. We look forward to many more years as a Globe 100 company.â€???
Based on a composite score derived from financial data for the four quarters ending December 31, 2012, Cubist was ranked 6th among Massachusetts-based companies whose stock is publicly traded on NASDAQ, New York Stock Exchange or American Stock Exchange. Cubist was ranked 1st among top performing biotechnology companies.
About the Globe 100 Ranking Methodology
The Globe 100 ranks Massachusetts-based public companies based on financial data from the four quarters ending December 31, 2012. To be eligible, the company must be traded publicly for the entire 2012 calendar year on the New York Stock Exchange, the Nasdaq or the American Stock Exchange and report revenue and profit for both 2011 and 2012. Companies are ranked on four criteria: return on average equity, one-year percentage change in revenue, one-year percentage change in profit margin and 2012 revenue.
Cubist Pharmaceuticals, Inc. is a biopharmaceutical company focused on the research, development, and commercialization of pharmaceutical products that address significant unmet medical needs in the acute care environment. Cubist is headquartered in Lexington, Mass. Additional information can be found at Cubistâ€™s web site at www.cubist.com.
Cubist Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein which do not describe historical facts, including but not limited to, our statement regarding: our Building Blocks of Growth strategic initiative providing a roadmap for us to achieve continued growth in the Commonwealth and improve treatment options in areas of high unmet medical need, are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Such risks and uncertainties include: our ability to continue to grow revenues from the sale of our products; the ability of our third-party suppliers to produce and deliver adequate amounts of our products and product candidates; the strength of, and our ability to successfully enforce, our intellectual property portfolio protecting our products and product candidates; competition from generic drug companies such as Teva and Hospira; our ability to successfully develop, gain marketing approval for and commercially launch ceftolozane/tazobactam and our other product candidates for their planned indications and on the timelines that we expect; our ability to discover, in-license or acquire new products and product candidates; our ability to achieve and manage our growth in our business; and those additional factors discussed in our most recent Annual Report on Form 10-K for the year ended December 31, 2012 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, as filed with the Securities and Exchange Commission. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. These forward-looking statements speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements.