UPDATE 1-Cubist posts higher Q3 profit on Cubicin sales

*Q3 profit rises 38 pct

*Revenue up 41 pct

*Cubicin sales up 45 pct (Recasts; adds details)

Oct 16 (Reuters) - Cubist Pharmaceuticals Inc (CBST.O) posted a 38 percent rise in quarterly profit, helped by strong sales of Cubicin, its antibiotic injection to treat bacterial infections.

Net income for the third quarter was $27.9 million, or 44 cents per share, compared with $20 million, or 32 cents per share, a year earlier. Excluding stock-based compensation expenses, Cubist earned 48 cents a share.

Total revenue rose 41 percent to $112.4 million. Cubicin sales rose 45 percent.

Analysts were expecting the company to earn 33 cents a share, excluding special items but including stock-based compensation expenses, on revenue of $108.7 million, according to Reuters Estimates.

Shares of the Lexington, Massachusetts-based company closed up 7 percent at $20.39 Thursday on Nasdaq. (Reporting by Esha Dey in Bangalore; Editing by Pratish Narayanan)