Gilead tries to acquire Incyte

Incyte is rumored to be targeted by Gilead Sciences and the two groups are already in advanced talks, Barron’s reports. Incyte focuses on developing and commercializing cancer therapies and is already marketing Jakafi, considered the best drug for the treatment of myelofibrosis (osteomyelitis). Shares in Incyte yesterday rose more than 8%. The group has a market value of $30.6bn and a P/E ratio of 277. (Source Barron’s)