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Investing.com -- Incyte (NASDAQ:INCY) stock rose 3.6% on Thursday after the company announced the appointment of Bill Meury as its new President and Chief Executive Officer, effective immediately.
Meury, a three-decade industry veteran, succeeds Hervé Hoppenot, who is retiring after 11 years of leading the biopharmaceutical company. Hoppenot will serve as an advisor to the CEO and remain on the board through the end of the year to ensure a smooth transition.
The new CEO most recently served as chief executive of Anthos Therapeutics until its acquisition by Novartis (SIX:NOVN) in April 2025. Before that, he led Karuna Therapeutics (NASDAQ:KRTX) through its merger with Bristol Myers (NYSE:BMY) Squibb in March 2024. Meury also spent more than 20 years at Allergan (NYSE:AGN), where he served as Chief Commercial Officer managing a global business with 50 products generating $16 billion in revenue.
"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 in a statement.
In addition to the CEO change, Lead Independent (LON:IOG) Director Julian Baker has been elected Chairman of the Board of Directors.
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