US-based Celgene has completed the acquisition of biopharmaceutical firm Receptos, for $7.2bn.
The deal was first announced by both firms in July this year.
Under the deal, Celgene has paid $232.00 per share in cash to the stockholders of Receptos, which is expected to expand the firm’s inflammation and immunology (I&I) portfolio.
Receptos is involved in developing therapeutic candidates for the treatment of immune and metabolic diseases.
Celgene chairman and CEO Bob Hugin said: "The Receptos acquisition provides a transformational opportunity for Celgene to impact multiple therapeutic areas.
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"This acquisition enhances our I&I portfolio and allows us to leverage the investments made in our global organization to accelerate our growth in the medium and long-term."
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By GlobalDataThe firm’s Ozanimod is a sphingosine 1-phosphate 1 and 5 receptor small molecule modulator, which is being developed for immune-inflammatory indications including, inflammatory bowel disease (IBD) and relapsing multiple sclerosis (RMS).
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