Celgene LogoCancer-drug company Celgene Corp. on Tuesday said it will pay $7.2 billion for Receptos Inc. moving into the multibillion-dollar market of autoimmune disease treatments and medications.

Celgene has been attempting diversify.  Some $7.6 billion dollars from 2014 came from their medication Revlimid.

Last year, Celgene received FDA approval for their medication Otezla for psoriasis.

“We’re creating a complementary portfolio,” Celgene CEO Robert Hugin said in a conference call with analysts reviewing the deal. He also remarked Ozanimod will help Celgene “really build a major franchise.”

Ozanimod is a treatment therapy presently in Stage III clinical trial for patients with Relapsing Remitting Multiple Sclerosis (RRMS) that is to be taken orally once per day.

Receptos LogoCelgene last month, agreed pay $1 billion dollars upfront to Juno Therapeutics Inc. aquiring a 10% stake and collaboration on the development of cancer therapies for immune related cancers.

About $5 billion in bonds in August to finance the transaction. Receptos has $600 million in cash, Celgene said.

CELGENE HAS COMPLETED ITS ACQUISITION OF RECEPTOS.

RPC-1063 IS NOT CYM-5442 OZANIMOD

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