OR WAIT null SECS
July 15, 2015.
Celgene Corporation (Summit, NJ) has announced that it is to acquire biopharmaceutical firm Receptos, Inc. (San Diego, CA) in a deal that will "significantly enhance" Celgene’s Inflammation & Immunology (I&I) portfolio and build on it growing expertise in inflammatory bowel disease (IBD), the cpmpany reports.
The transaction adds Receptor's Ozanimod, which has demonstrated areas of potential advantage over existing oral therapies for the treatment of ulcerative colitis (UC) and relapsing multiple sclerosis (RMS), to Celgene’s pipeline.
Bob Hugin, Chairman and Chief Executive Officer of Celgene, commented: "The Receptos acquisition provides a transformational opportunity for Celgene to impact multiple therapeutic areas." The deal will power Celegene's I&I franchise towards a revised long-term, 2020 target to exceed $4.0 billion, up from its previous target of $3.0 billion.