Delaware Bio Honors Incyte Corporation (NASDAQ:INCY) As Company Of The Year, Again

Blood cancer drug maker, Incyte Corporation (NASDAQ:INCY), has been recognized by Delaware Bio as 2015 Company of the Year. The latest recognition marks the second time that Incyte has bagged the top honor from the nonprofit organization. The other time that Delaware Bio named Incyte Company of the Year was 2012. Incyte is set to receive the top honor award from Delaware Bio on April 22.

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Delaware Bio’s annual gala has been around since 2008. The nonprofit is also expected to recognize other companies such as QPS Holdings LLC and Agilent Technologies alongside Incyte at the April gala in

Executive comment

Incyte Corporation (NASDAQ:INCY)’s CEO, Herve Hoppenot, appreciated the recognition of their efforts and contribution by Delaware Bio. Hoppenot further cited that 2014 as a successful year in which they were able to achieve various milestones across board. The CEO said that Incyte is on the right track to continue innovating for new treatments and grow at the same time.

Based in Wilmington, Incyte is involved in the discovery, development and commercialization of treatments. The company’s drug known as Jakafi was the first myelofibrosis treatment to be approved by the FDA in 2011. Jakafi also carries U.S. approval for treatment of a condition known as polycythemia vera. The drug is marketed as Jakavi outside the U.S.

Revenue and commercialize deal

Incyte Corporation (NASDAQ:INCY) generated revenue of $358 million last year from the sale of the treatment. Sales of the drug are predicted to be more than $525 million in 2015. Analysts have cited that the drug could fetch up to $1 billion in annual sales by the end of this decade.

Incyte transferred rights to develop and commercialize Jakafi outside the U.S. to Novartis AG (ADR) (NYSE:NVS) in a 2009 agreement.

CMO appointment

Meanwhile, Incyte Corporation (NASDAQ:INCY) appointed a new chief medical officer in the person of Steven H. Stein, who also doubles up as senior vice president of the company. Stein will take charge of the oncology drug portfolio and drive clinical strategies.

David Barry

David Barry

Barry is a senior journalist at Us Markets Daily. He reports, shoots and edits many of his own stories by himself.