Wilmington Based Biotech Company Incyte Joins the S&P 500

Incyte Corp. has joined the prestigious Standard & Poor’s 500, an index of the 500 most widely held stocks on the New York Stock Exchange and Nasdaq.

“The [S&P 500] index is an important threshold for us because it has put us into a bigger arena of life sciences companies,” said Dave Gryska, Incyte’s chief financial officer.

In the past year, Incyte’s stock has skyrocketed, nearly doubling from $75 a share to today’s high of $133.

Incyte has one drug which has been approved by the U.S. Food and Drug Administration (FDA), Jakafi. Which treats a rare blood cancers. Incyte stated that it expects Jakafi to generate $1 billion in sales in 2017.

Gryska added that, “Being added to the S&P 500 listing will help Incyte attract talent to Delaware in the highly competitive life sciences market.”

Read the full article at DelawareOnline.com 

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Incyte logo from (PRNewsFoto/Incyte Corporation)

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