INCYTE CORPORATION (NASDAQ:INCY) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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INCYTE CORPORATION (NASDAQ:INCY) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry Into a Material Definitive Agreement.

Effective December 13, 2016, Incyte Corporation (“Incyte”) and Eli Lilly and Company (“Lilly”) entered into an amendment (the “Lilly Amendment”) to the License, Development and Commercialization Agreement, entered into as of December 18, 2009, and as previously amended, between Incyte and Lilly (the “Lilly License Agreement”). Under the Lilly Amendment, the milestone provisions of the Lilly License Agreement have been amended to provide that the $65 million milestone payment from Lilly to Incyte that was initially to be triggered upon a positive recommendation by the Committee for Medicinal Products for Human Use at the European Medicines Agency will now be triggered by the receipt of marketing authorization for baricitinib by the European Commission.

The foregoing description of the Lilly Amendment does not purport to be complete and is qualified in its entirety by reference to the Lilly Amendment, a copy of which Incyte expects to file as an exhibit to Incyte’s Annual Report on Form 10-K for the year ending December 31, 2016.


About INCYTE CORPORATION (NASDAQ:INCY)

Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK). The Company’s pipeline includes compounds in various stages, ranging from preclinical to late stage development, and a commercialized product, JAKAFI (ruxolitinib). The Company has discovered multiple potent, selective and orally bioavailable JAK inhibitors that are selective for JAK1 or JAK1 and JAK2. JAKAFI is the compound in its JAK program, which is an oral JAK1 and JAK2 inhibitor. JAKAFI orphan drug is indicated for Myelofibrosis (MF), Polycythemia Vera (PV) and essential thrombocythemia. The Company’s second oral JAK1 and JAK2 inhibitor is baricitinib.

INCYTE CORPORATION (NASDAQ:INCY) Recent Trading Information

INCYTE CORPORATION (NASDAQ:INCY) closed its last trading session down -2.21 at 100.79 with 1,520,759 shares trading hands.