Cubist completes Trius acquisition

LEXINGTON, Mass. — Cubist has completed its purchase of Trius Therapeutics, Cubist said.

The $704 million acquisition will give Cubist control of the drug tedizolid phosphate, an experimental drug that it said had the potential to treat resistant infections. Trius ceased to be traded on the NASDAQ earlier this week.

"The need for new treatments to combat drug-resistant bacteria is growing, and we will work diligently to bring this antibiotic product candidate to market in order to help hospitals and their patients combat these infections," Cubist CEO Michael Bonney said. "This transaction is also an important step toward achieving Cubist's 'Building Blocks of Growth' and continuing our track record of driving shareholder value over the long term."