Incyte appoints Soni Basi as new chief human resources officer

WILMINGTON, Del. - Biopharmaceutical company Incyte (NASDAQ:INCY), a $16.6 billion market cap company trading near its 52-week high, announced today the appointment of Soni Basi as Executive Vice President and Chief Human Resources Officer, effective immediately.

Basi, who brings over 25 years of experience in global HR and business leadership, will join Incyte’s Executive Leadership Team and oversee the company’s global human resources strategy, including talent acquisition, organizational design and professional development.

Prior to joining Incyte, Basi served as CHRO at Edelman where she managed a team of more than 200 HR professionals. She previously held leadership positions at AIG, Allergan Pharmaceuticals, The Estée Lauder Companies and Schering-Plough. Basi holds a Master’s degree and Ph.D. in Social Psychology from Bowling Green State University.

"Soni has extensive knowledge and experience in all aspects of human resources," said Bill Meury, President and Chief Executive Officer of Incyte, according to the company’s press release.

Basi succeeds Paula Swain, who retired from her position as Incyte’s Executive Vice President and Head of Human Resources.

Headquartered in Wilmington, Delaware, Incyte focuses on discovering, developing and commercializing proprietary therapeutics, with operations across North America, Europe and Asia. The company has established a portfolio of medicines in oncology, inflammation and autoimmunity. According to InvestingPro data, Incyte maintains strong financial health with an 18.9% revenue growth and healthy profit margins, while holding more cash than debt on its balance sheet.

The announcement comes as Incyte continues to position itself for future growth in the biopharmaceutical sector. InvestingPro analysis reveals 12 analysts have revised their earnings upwards for the upcoming period, suggesting positive momentum. For deeper insights into Incyte’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro along with 10+ additional ProTips and detailed financial metrics.

In other recent news, Incyte has reported strong financial results for the second quarter of 2025, with earnings surpassing both top and bottom line consensus expectations. Jakafi sales were particularly notable, reaching $764 million, exceeding the consensus estimate of $743 million. Following this performance, Truist Securities raised its price target for Incyte to $79, maintaining a Hold rating. Meanwhile, RBC Capital also adjusted its price target to $72, citing strong demand-driven growth from Jakafi and Niktimvo, alongside better-than-expected performance from Opzelura. BMO Capital increased its price target to $60, expressing encouragement from the earnings results while maintaining an Underperform rating. Barclays initiated coverage of Incyte with an Overweight rating and a $90 price target, highlighting the company’s potential for revenue growth with multiple assets maturing in the coming years. In addition to these developments, Incyte announced that its Executive Vice President and Chief Financial Officer, Christiana Stamoulis, will step down in September 2025 to pursue another opportunity. The company has begun the search for her successor to ensure a smooth transition.

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