Optimer Pharmaceuticals

Optimer Pharmaceuticals Inc (Nasdaq: OPTR) was a biopharmaceutical company, originally headquartered in San Diego, California, and later moved to Jersey City, New Jersey, United States.

Optimer Pharmaceuticals
TypePublicly traded
Nasdaq: OPTR
IndustryPharmaceuticals
Founded1998 (1998)
FounderMichael N. Chang
Tessie M. Che
Headquarters
San Diego, California
,
U.S.
Key people
Youe Kong Shue
Samuel J. Danishefsky
Chi-Huey Wong
RevenueDecrease $144 million (2011)
Decrease $100 million (2012)
Number of employees
281 (June 2013)
Websitewww.optimerpharma.com

The company focused on developing specialty drugs to treat gastrointestinal infections and related diseases. In 2011, it received regulatory approval for the first antibacterial drug, Dificid, in 25 years approved to treat certain types of diarrhea (i.e., Clostridium difficile induced diarrhea) in adults. But sales of the drug Dificid failed to meet expectations and the drug faced strong competition from cheaper generic alternatives.

History

Optimer Pharmaceuticals, Inc. was founded in 1998 and registered in the state of Delaware. Corporate and R&D headquarters were located in San Diego, California until 2011. CEO Michael Nientse Chang founded, funded and built the company with his wife, Tessie Mary Che, who was COO from 1998 to 2011.

From 2007 to 2013, Optimer Pharmaceuticals was traded on Nasdaq Stock Exchange under OPTR. At one time, its share price was USD 8.50 per share.

In July 2013, Cubist Pharmaceuticals agreed to purchase Trius Therapeutics and Optimer Pharmaceuticals for around $1.6 billion.[1]

In late October 2013, Cubist Pharmaceuticals completed its $535 million acquisition of Jersey City-based Optimer Pharmaceuticals. Optimer employees were told the New Jersey office would close down in 2014.[2] This company no longer exists.

References
  1. Vrinda Manocha and Zeba Siddiqui (30 July 2013). "Cubist to pay up to $1.6 billion for two antibiotics makers". Reuters.
  2. "177 Optimer Pharmaceuticals employees face layoff after acquisition". 6 December 2013.
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