Celgene finalises takeover of Receptos

Celgene has announced the acquisition of Receptos in a deal worth approximately $7.2 billion (4.67 billion pounds).

The acquisition will significantly enhance the company's inflammation and immunology portfolio, while further diversifying its revenue streams from 2019 onwards.

Specifically, it will build on Celgene's growing expertise in inflammatory bowel disease by adding Ozanimod, a novel, potential best-in-class, oral, selective sphingosine 1-phosphate 1 and 5 receptor modulator, to the firm's portfolio.

Ozanimod has demonstrated several areas of potential advantage over existing oral therapies for the treatment of ulcerative colitis and relapsing multiple sclerosis, including its cardiac, hepatotoxicity and lymphocyte recovery profile.

Bob Hugin, chairman and chief executive officer of Celgene, said: "This acquisition enhances our inflammation and immunology portfolio and allows us to leverage the investments made in our global organisation to accelerate our growth in the medium and long term."

This follows the company's acquisition of Quanticel Pharmaceuticals earlier this year.