RESEARCH CASE-CELGENE'S ACQUISITION OF RECEPTOs, INC. On August 27, 2015, Celgene Corporation acquired all of the outstanding stock of Receptos, Inc., in exchange for $7.6 billion in cash. Referring to Celgene's 2015 financial statements and its July 14, 2015, press release announcing the acquisition, answer the following questions regarding the Receptos acquisition. Why did Celgene acquire Receptos? 2. What accounting method was used, and for what amount, to record the acquisition? 3. What amount did Celgene include in pre-combination service compensation in the total consider- sk ation transferred? What support is provided for this treatment in the Accounting Standards Codifica- 4. What allocations did Celgene make to the assets acquired and liabilities assumed in the acquisition? 5. Describe the nature of the in-process research and development product rights acquired by Celgene 6. How will Celgene account for the in-process research and development product rights acquired in tion (see ASC 805-30-30, paragraphs 9-13)? Provide a calculation showing how Celgene determined the amount allocated to goodwill. in its acquisition of Receptos. the Receptos combination