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WILMINGTON, Del. - Biopharmaceutical company Incyte (NASDAQ:INCY), currently valued at $13.1 billion and showing strong financial health according to InvestingPro analysis, has appointed Bill Meury as its new President and Chief Executive Officer, effective immediately, according to a company press release.
Meury succeeds Hervé Hoppenot, who is retiring after 11 years leading the company. Hoppenot will remain as an advisor to the CEO and board member through the end of the year to ensure a smooth transition. Lead Independent Director Julian Baker has been elected Chairman of the Board.
The new CEO brings significant industry experience, most recently serving as CEO of Anthos Therapeutics until its acquisition by Novartis in April 2025. Previously, he led Karuna Therapeutics until its merger with Bristol Myers Squibb in March 2024, and spent over two decades at Allergan, where he served as Chief Commercial Officer managing a global business with approximately 8,000 employees.
"My priority is to build upon our exceptional R&D and commercial capabilities to accelerate new product flow, drive sustainable growth and create value for all stakeholders," Meury said.
Under Hoppenot’s leadership since 2014, Incyte transformed from a single-product U.S. company to a global enterprise with six novel medicines plus two new indications for Jakafi. The company expanded commercial operations into Europe, Japan and Canada, achieving impressive 17% year-over-year revenue growth to reach $4.4 billion. InvestingPro data shows the company maintains a strong balance sheet with more cash than debt, positioning it well for continued growth. Discover 10+ additional exclusive insights about Incyte’s financial health with an InvestingPro subscription.
Incyte focuses on developing treatments for patients with unmet medical needs, with a portfolio of products in oncology, inflammation, and autoimmunity. The company is headquartered in Wilmington, Delaware, with operations across North America, Europe, and Asia. Currently trading below its Fair Value according to InvestingPro’s analysis, Incyte shows promising fundamentals with analysts expecting net income growth this year.
In other recent news, Incyte Corporation announced that the U.S. Food and Drug Administration has extended the review period for its ruxolitinib cream, Opzelura, intended for children with mild to moderate atopic dermatitis. The review period has been pushed back by three months to September 19, 2025, to allow for additional data review. Meanwhile, the FDA has approved Monjuvi, in combination with rituximab and lenalidomide, for treating adult patients with relapsed or refractory follicular lymphoma. This approval is based on the Phase 3 inMIND trial, which showed improved progression-free survival for patients using the combination therapy. Furthermore, Oppenheimer maintained its Outperform rating on Incyte following promising data for its novel cancer treatment, which was presented at the European Hematology Association meeting. Jefferies also raised its price target for Incyte to $82.00, citing the potential of the company’s mCALR-targeting monoclonal antibody. These developments reflect Incyte’s ongoing efforts to expand its product pipeline and secure future revenue streams.
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