Incyte Corporation (INCY)

[surf1944]

9:26AM Incyte announces EU regulatory milestone for ruxolitinib, to receive $40 mln payment from Novartis (NVS) (INCY) 18.88 : Co announced today a European Union (EU) regulatory milestone from Novartis. The milestone includes a $40 mln payment earned based on the recommendation by the Committee for Medicinal Products for Human Use of the European Medicines Agency for approval of ruxolitinib for the treatment of disease-related splenomegaly or symptoms in adult patients with primary myelofibrosis (also known as chronic idiopathic myelofibrosis), post-polycythemia vera myelofibrosis or post-essential thrombocythemia myelofibrosis. A second payment of $60 mln would be earned once Novartis achieves reimbursement and pricing approval in specific EU countries. Ruxolitinib is known as Jakafi (ruxolitinib) in the US and will be called Jakavi in Europe.