Pfizer to Pay Up to $803m for Rights to Incyte Drugs

The Record, Bergen County, NJ › November 22, 2005

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Summary

Pfizer Inc., the world's biggest drugmaker, may pay Incyte Corp. as much as $803 million for rights to experimental medicines against diseases including rheumatoid arthritis. Incyte shares rose as much as 39 percent.

Pfizer is buying the worldwide development and marketing rights to Incyte's portfolio of CCR2 antagonist compounds, the companies said in a statement Monday. Incyte will receive $40 million now and will be eligible for additional payments of as much as $743 million as well as royalties on drug sales.

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Pfizer to Pay Up to $803m for Rights to Incyte Drugs

Pfizer is looking for new drugs to help increase sales as it loses patent protection on five more medicines throug...

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