Celgene wraps up 7.2B deal for Receptos

Eric Strauss//August 28, 2015//

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Celgene Corporation announced Thursday it has completed the previously announced acquisition of biopharmaceutical company Receptos Inc.The Summit-based drugmaker said in a news release that it paid $232 per share in cash to Receptos stockholders.

The deal gives it the rights to Receptos’ Ozanimod medicine for ulcerative colitis and relapsing multiple sclerosis, which will be added to Celgene’s inflammation and immunology portfolio. The drug is in Phase III trials.

The acquisition was first announced in July.