July 14, 2015 / 9:18 PM / 2 years ago

Celgene to buy Receptos for $7.2 bln

July 14 (Reuters) - 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 will pay $232 in cash for every Receptos share, representing a 12 percent premium to the company's closing price on Tuesday.

Ozanimod is in late-stage trials for inflammatory bowel disease and multiple sclerosis. (Reporting by Amrutha Penumudi in Bengaluru; Editing by Maju Samuel)

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