Novartis (NVS) Excites Incyte (INCY) with Licensing Deal
Novartis (NYSE: NVS) and Incyte Corp. (NASDAQ: INCY) struck a licensing deal where Novartis will gain access to Incyte's therapies for caner patients and patients with blood-disorders that could be life-threatening.
Novartis agreed to pay Incyte $150 million upfront. The first milestone payment Incyte will receive could be up to $60 million.
Shares of Incyte are trading up 6.61% to $8.23. Novartis is up 0.85% to $55.78.
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