• Cubist Pharmaceuticals Inc., of Lexington, Mass., reported full-year 2011 revenues of $754 million and GAAP earnings of $33 million, or 52 cents per diluted share. For the fourth quarter, revenues of $213 million beat the $204 million analysts had expected, but GAAP earnings of $6.8 million, or 11 cents per share, were far below expectations because of Cubist's $415 million acquisition of Exton, Pa.-based Adolor Corp. Net revenues of antibiotic Cubicin (daptomycin) were $200.9 million for the fourth quarter and $735.5 million for the year, up 25 percent and 18 percent, respectively, over the same periods in 2010. As of Dec. 31, 2011, Cubist had $867.7 million in cash, equivalents and investments. (See BioWorld Today, Oct. 25, 2011.)