Celgene Agrees to $7.2 Billion Deal for Receptos

July 14, 2015 9:53 PM

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The biotechnology company Celgene agreed Tuesday to pay $7.2 billion in cash to acquire Receptos, which is developing a potentially promising drug for autoimmune diseases.

Celgene will pay $232 a share, a 12 percent premium to Receptos’s closing price on Tuesday. The deal was announced after markets had closed.

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