FDAnews Drug Daily Bulletin

INCYTE FILLS PFIZER PRESCRIPTION

Nov. 22, 2005
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Pfizer Inc. is set to pay Incyte Corp. as much as $803 million for the right to develop, manufacture and market drugs for chronic inflammatory conditions, the companies said Monday. Shares of Incyte (unchanged at $4.80, Research) rose over 27 percent on the Inet electronic brokerage system. Pfizer (unchanged at $21.60, Research) shares edged higher. Under the collaborative research and license agreement, Pfizer will get exclusive access to Incyte's portfolio of CCR2 antagonist compounds, the most advanced of which is in mid-stage studies in rheumatoid arthritis and insulin-resistant obese patients.

CNN (http://money.cnn.com/2005/11/21/news/fortune500/pfizer.reut/)