On Wednesday, Shares of Receptos Inc (NASDAQ:RCPT), gained 11.05% to $ 230.08.
Celgene Corporation (CELG) and Receptos, Inc. (RCPT) declared the signing of a definitive agreement in which Celgene has agreed to acquire Receptos. Under the terms of the merger agreement, Celgene will pay $232.00 per share in cash, or a total of about $7.2 billion, net of cash attained.
The acquisition of Receptos significantly enhances Celgene’s Inflammation & Immunology (I&I) portfolio, further diversifies the Company’s revenue starting in 2019 and beyond, and builds upon Celgene’s growing expertise in inflammatory bowel disease (IBD). The transaction adds Ozanimod, a novel, potential best-in-class, oral, once-daily, selective sphingosine 1-phosphate 1 and 5 receptor modulator (S1P) to Celgene’s deep and diverse pipeline of potential disease-altering medicines and investigational compounds.
Based on clinical studies, Ozanimod demonstrated several areas of potential advantage over existing oral therapies for the treatment of ulcerative colitis (UC) and relapsing multiple sclerosis (RMS), counting its cardiac, hepatotoxicity and lymphocyte recovery profile. The phase III TRUE NORTH trial in UC is presently underway with data predictable in 2018. The phase III RADIANCE and SUNBEAM RMS trials are ongoing and data are predictable in the first half of 2017 to support a RMS approval in 2018. Additionally, Ozanimod is positioned to potentially become the first S1P receptor modulator to be approved for IBD.
Receptos, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics in immune disorders. Its lead product comprises ozanimod, an oral therapy that is in phase III studies for the treatment of relapsing multiple sclerosis; and is in phase II studies to treat ulcerative colitis and crohn’s disease.
Shares of BlackRock, Inc. (NYSE:BLK), inclined 1.12% to $346.58, during its last trading session.
BlackRock, planned to close and liquidate the following U.S. iShares ETFs based on an ongoing process to review its product lineup and ensure it meets the evolving needs of its clients.
BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors. It also manages accounts for corporate, public, union and industry pension plans, insurance companies, third-party mutual funds, endowments, foundations, charities, corporations, official institutions, and banks.
Finally, Omnicare, Inc. (NYSE:OCR), ended its last trade with 0.21% loss, and closed at $95.55.
Omnicare, will release its financial results for the second quarter of fiscal 2015 before the market opens on Friday, July 24, 2015. Omnicare will not host a conference call to talk about the results.
Omnicare, Inc. operates as a healthcare services company that specializes in the administration of pharmaceutical care in the United States. The company’s Long-Term Care Group segment offers pharmaceuticals, and related pharmacy and ancillary services to long-term care facilities; and chronic care facilities and other settings.
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