Celgene Agrees to $7.2 Billion Deal for Receptos
ByThe biotechnology company Celgene agreed on Tuesday to pay $7.2 billion in cash to acquire Receptos, which is developing a potentially promising drug for autoimmune diseases.
Celgene will pay $232 a share, a 12 percent premium to Receptos’s closing price on Tuesday. The deal was announced after markets had closed.
Receptos, based in San Diego, is developing a drug called ozanimod that is now in late-stage clinical trials as a treatment for multiple sclerosis and ulcerative colitis, with an approval possible for multiple sclerosis as early as 2018 and for ulcerative colitis the year after.
“The Receptos acquisition provides a transformational opportunity for Celgene to impact multiple therapeutic areas,” Robert J. Hugin, the chief executive of Celgene, said in a statement…
Celgene Agrees to $7.2 Billion Deal for Receptos
