Cubist Settles Teva Patent Litigation on Antibiotic Cubicin
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Cubist Pharmaceuticals Inc. rose the most in two years in late Nasdaq trading after the company agreed to license its antibiotic Cubicin to Teva Pharmaceutical Industries Ltd., resolving a patent dispute.
Cubist shares increased as much as 14 percent to $28.90 at 6:31 p.m. New York time in extended Nasdaq Stock Market trading. The stock gained 10 percent in the past 12 months.