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Celgene Will Buy Drug Developer Receptos for $7.32 Billion

2015-07-15 00:23:18| Biotech - Topix.net

Cancer drug maker Celgene says it will buy drug developer Receptos for $7.32 billion cash, gaining a drug Receptos is studying as a treatment for multiple sclerosis and ulcerative colitis. Celgene agreed to pay $232 per share for Receptos, and the companies valued the deal at $7.2 billion excluding Receptos' cash on hand.

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Category:Biotechnology and Pharmaceuticals

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