Cubist antibiotic succeeds in late-stage trial, shares rise

(Reuters) - Cubist Pharmaceuticals Inc said its experimental antibiotic for treating abdominal infections was found as effective as a widely used antibiotic in a late-stage trial. The company's shares rose about 8 percent to $68 in premarket trading. Cubist's drug, a combination of ceftolozane and tazobactam, was being tested in patients with complicated intra-abdominal infections, in combination with another antibiotic, metronidazole. The data comes close on the heels of positive results from another late-stage study last month that showed the drug was successful in treating urinary tract infection. Based on the success of the two trials, Cubist said it expected to submit for U.S. regulatory approval of the drug in the first half of 2014 for use in both infections. Cubist plans to submit its European marketing application in the second half of 2014. Ceftolozane/tazobactam is also being developed for treating hospital-acquired bacterial pneumonia/ventilator-associated bacterial pneumonia. Cubist said it expected to start a late-stage trial to assess the drug's safety and efficacy in this indication during the first half of next year. Cubist shares closed at $62.78 on Friday on the Nasdaq. (Reporting by Esha Dey in Bangalore; Editing by Kirti Pandey)