Incyte has appointed Bill Meury as its new CEO, effective immediately, replacing Hervé Hoppenot who led the cancer and blood disease drugmaker for 11 years.
Meury previously led Anthos Therapeutics, which sold to Novartis for nearly $1 billion, and Karuna Therapeutics, acquired by Bristol Myers Squibb for $14 billion in 2023.
Under Hoppenot's leadership, Incyte grew revenues from $355 million in 2013 to $4.2 billion today, though the company remains heavily dependent on Jakafi, which faces patent expiration in 2028.
Incyte shares rose more than 4% following the CEO announcement, with investors potentially viewing the company as an acquisition target given Meury's track record of successful exits.