FRONT PAGE AMPYRA AUBAGIO AVONEX BETASERON COPAXONE EXTAVIA
Stan's Angels MS News Channel on YouTube GILENYA NOVANTRONE REBIF RITUXAN TECFIDERA TYSABRI
 Daily News for Neuros, Nurses & Savvy MSers: 208,152 Viewers, 8,368 Stories & Studies
Click Here For My Videos, Advice, Tips, Studies and Trials.
Timothy L. Vollmer, MD
Department of Neurology
University of Colorado Health Sciences Center Professor

Co-Director of the RMMSC at Anschutz Medical Center

Medical Director-Rocky Mountain MS Center
Click here to read my columns
Brian R. Apatoff, MD, PhD
Multiple Sclerosis Institute
Center for Neurological Disorders

Associate Professor Neurology and Neuroscience,

Weill Medical College of Cornell University

Clinical Attending in Neurology,
New York-Presbyterian Hospital
CLICK ON THE RED BUTTON BELOW
You'll get FREE Breaking News Alerts on new MS treatments as they are approved
MS NEWS ARCHIVES: by week

HERE'S A FEW OF OUR 6000+ Facebook & MySpace FRIENDS
Timothy L. Vollmer M.D.
Department of Neurology
University of Colorado Health Sciences Center
Co-Director of the RMMSC at Anschutz Medical Center
and
Medical Director-Rocky Mountain MS Center


Click to view 1280 MS Walk photos!

"MS Can Not
Rob You of Joy"
"I'm an M.D....my Mom has MS and we have a message for everyone."
- Jennifer Hartmark-Hill MD
Beverly Dean

"I've had MS for 2 years...this is the most important advice you'll ever hear."
"This is how I give myself a painless injection."
Heather Johnson

"A helpful tip for newly diagnosed MS patients."
"Important advice on choosing MS medication "
Joyce Moore


This page is powered by Blogger. Isn't yours?

Wednesday

 

Celgene will Buy Drug Developer Receptos for $7.32B































Cancer drug maker Celgene said it will buy Receptos for $7.32 billion in cash, gaining a drug Receptos is studying as a treatment for multiple sclerosis and ulcerative colitis.

Celgene agreed to pay $232 per share for Receptos, and the companies valued the deal at $7.2 billion excluding Receptos' cash on hand. That's a 12 percent premium from the Tuesday closing price of Receptos shares. The stock has surged more than fivefold over the last year as its drug ozanimod progressed in clinical testing.

Celgene Corp., based in Summit, New Jersey, reported about $2 billion in first-quarter sales of its drugs, which include the multiple myeloma treatments Revlimid and Pomalyst and breast and lung cancer drug Abraxane. Revlimid, its top seller, is also used to treat severe anemia and mantle cell lymphoma. The purchase of Receptos is part of a push to boost its sales of treatments for inflammatory and immune diseases. In 2014 Celgene launched its first drug in that category, the psoriasis and psoriatic arthritis treatment Otezla.

Receptos Inc. doesn't have any approved drugs on the market. The San Diego-based company expects results from late-stage trials of ozanimod in 2017 and 2018 and hopes to get the drug approved as a treatment for multiple sclerosis in 2018. In addition to ulcerative colitis, Receptos is also studying the drug as a treatment for inflammatory bowel disease. The companies said they think its annual sales could reach $6 billion.

In extended trading, Receptos shares added 10 percent, or $21.17, to $228.35. The stock closed at $37.75 a year ago.

Celgene shares rose nearly 6 percent, or $7.07, to $129.92 in late trading. Last month Celgene agreed to invest about $1 billion in drug developer June Therapeutics Inc., mostly by buying stock. The companies plan to develop cancer and autoimmune disease treatments.

Story Source: The above story is based on materials provided by DRUGDISCOVERY&DEVELOPMENT
Note: Materials may be edited for content and length


Go to Newer News Go to Older News