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Celgene Corp to buy Receptos Inc for US$7.2 billion

Celgene Corp said it agreed to buy Receptos Inc for about $7.2 billion to expand its pipeline with Receptos\' immune-inflammatory bowel drug, Ozanimod.

Celgene Corp said it decided to buy Receptos Inc for about $7.2 billion to grow its pipeline with Receptos\’ immune-inflammatory bowel drug, Ozanimod.

Celgene will pay US$232 in cash for each Receptos share, representing a 12 per cent premium to the company\’s closing price on Tuesday.

Ozanimod is in late-stage trials for inflammatory bowel disease and ms.

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