Pharma BD Deal Intelligence
Celgene's $7.2B acquisition of Receptos delivered exactly what it paid for: ozanimod, the multiple sclerosis asset that anchored the deal. The purchase priced in significant execution risk on a single late-stage molecule, and results came in mixed against that bar.
Celgene acquired Receptos for $7.2B for ozanimod.
Celgene spends $7.2 billion on Receptos purchase, driven by the potential of ozanimod for ulcerative colitis and multiple sclerosis as the company diversifies…
Source summaries from our enrichment pipeline; follow links for originals.
All 4 sources with sentiment breakdown →
Celgene acquired Receptos for $7.2B for ozanimod.
38K US cases/yr · $7.5B Global IBD Market (2016) · 30-40% UC Patients Failing 1L Therapy
Ulcerative colitis is a chronic inflammatory bowel disease causing inflammation of the colon. S1P modulators offered an oral alternative to injectable biologics like anti-TNFs and vedolizumab.
Celgene acquired Receptos primarily for ozanimod's MS potential but the UC indication represented significant upside. Zeposia was approved for UC in 2021.
10K US cases/yr · $23.0B Global MS Market (2016)
~10 approved DMTs
The MS market was dominated by Gilenya, Tecfidera, and anti-CD20 therapies. Ozanimod aimed for S1P selectivity advantages over Gilenya. BMS (post-Celgene acquisition) launched Zeposia in 2020, also gaining UC approval in 2021.
Celgene acquired Receptos at $232/share to gain ozanimod S1P modulator for MS and UC.
BMS (post-Celgene merger) won FDA approval for Zeposia in relapsing MS. Regulatory step in Celgene Corporation's acquisition process for Receptos Inc..
FDA approved Zeposia for moderately to severely active ulcerative colitis in adults.
Zeposia sales grew 30% YoY to $566M but far short of original $4-6B peak sales projection.
Below Peak Expectations. Assessment of Celgene Corporation's $7.2B acquisition of Receptos Inc. and its strategic outcomes.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Celgene Corporation / Receptos Inc. (this deal) | 2015 | $7.2B | 63 |
| Celgene Corporation / Bristol-Myers Squibb Company | 2015 | $2.0B | 85 |
| Celgene Corporation / Agios Pharmaceuticals Inc. | 2010 | $130M | 83 |
| Celgene Corporation / Bristol-Myers Squibb Company | 2018 | $9.0B | 68 |
| Celgene Corporation / Abraxis BioScience Inc. | 2010 | $2.9B | 65 |
| Celgene Corporation / Impact Biomedicines | 2018 | $7.0B | 54 |
| Celgene Corporation / Gloucester Pharmaceuticals, Inc. | 2009 | $640M | 40 |
← Browse all deals · How we score deals
More: 2015 deals · Celgene Corporation deals · Gastroenterology deals