Celgene nails down $7.2B takeover of Receptos

Celgene ($CELG) Thursday reported that it had completed its $7.2 billion buyout of Receptos. Celgene agreed to pay $232 per share for the San Diego-headquartered company, a nearly 18% premium. The target of its affection is ozanimod, which is in Phase III development for ulcerative colitis and multiple sclerosis. The Summit, NJ, company has said that if approved, it could hit peak annual sales of as much as $6 billion. Release | More

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