WILMINGTON, Del.--(BUSINESS WIRE)--Incyte Corporation (Nasdaq:INCY) (the “Company”) today announced that its Board of Directors approved a share repurchase authorization of $2.0 billion. The Company has commenced a modified “Dutch Auction” tender offer to repurchase shares of its common stock for an aggregate purchase price of up to $1.672 billion (the “tender offer”)..

特拉华州威尔明顿市。--（商业新闻短讯）--Incyte Corporation（纳斯达克代码：INCY）（“公司”）今天宣布，其董事会批准了20亿美元的股份回购授权。该公司已开始修改“荷兰拍卖”要约收购其普通股股份，总收购价格高达16.72亿美元（“要约收购”）。。

“This tender offer reflects our confidence in the future outlook of our business, the strength of our commercial product portfolio and our clinical development pipeline and Incyte’s long-term value. We believe the current valuation of Incyte stock makes repurchases of our stock an attractive investment and an opportunity to enhance long-term shareholder value,” said Hervé Hoppenot, Chief Executive Officer, Incyte.

Incyte首席执行官HervéHoppenot表示：“此次收购要约反映了我们对公司未来前景、商业产品组合和临床开发渠道的实力以及Incyte的长期价值的信心。我们认为，目前对Incyte股票的估值使回购我们的股票成为一项有吸引力的投资，也是一个提高长期股东价值的机会。”。

“Our strong balance sheet, cash flow and access to capital enable us to undertake this transaction while also preserving the flexibility to further add to the growth of our business through focused, strategic acquisitions.”.

“我们强大的资产负债表、现金流和资金渠道使我们能够进行这项交易，同时也保持了灵活性，可以通过集中的战略收购进一步增加我们业务的增长。”。

In addition, on May 12, 2024, Incyte entered into a separate stock purchase agreement with Julian C. Baker (a member of Incyte’s Board of Directors), Felix J. Baker, and entities affiliated with Julian C. and Felix J. Baker, including funds advised by Baker Bros. Advisors LP (collectively, the “Baker Entities”), to repurchase up to $328.0 million of the Company’s common stock.

此外，2024年5月12日，Incyte与Julian C.Baker（Incyte董事会成员）、Felix J.Baker以及Julian C.和Felix J.Baker的附属实体（包括Baker Bros.Advisors LP（统称“Baker实体”）建议的资金）签订了单独的股票购买协议，以回购高达3.28亿美元的公司普通股。

This would enable the Baker Entities to maintain their current ownership level of approximately 16.4 percent of Incyte’s outstanding common stock. The Baker Entities purchase will be at the same price per share as is determined and paid in the tender offer..

这将使贝克实体能够维持目前约16.4%的Incyte已发行普通股的所有权水平。贝克实体的收购价格将与投标报价中确定和支付的每股价格相同。。

Modified “Dutch Auction” Tender Offer

修改后的“荷兰拍卖”投标报价

Incyte is offering to purchase up to $1.672 billion in value of its common stock at a price not greater than $60.00 per share nor less than $52.00 per share, net to the seller in cash, less any applicable withholding taxes and without interest, upon the terms and subject to the conditions set forth in the tender offer documents that are being distributed to stockholders.

Incyte提议以不高于每股60.00美元且不低于每股52.00美元的价格购买价值高达16.72亿美元的普通股，以现金净额向卖方支付，减去任何适用的预扣税，不计息，并符合向股东分发的要约收购文件中规定的条款和条件。

The Company reserves the right, in its sole discretion, to change the per share purchase price options and to increase or decrease the aggregate value of shares sought in the tender offer, subject to applicable law. In accordance with the rules of the Securities and Exchange Commission (“SEC”), Incyte may purchase in the offer up to an additional 2 percent of its outstanding shares without amending or extending the tender offer.

根据适用法律，公司保留自行决定更改每股购买价格期权以及增加或减少要约收购中所寻求股份总价值的权利。根据美国证券交易委员会（“SEC”）的规定，Incyte可以在不修改或延长要约的情况下，在要约中购买至多2%的已发行股份。

On May 10, 2024, the Nasdaq closing price of the common stock was $53.06 per share. The tender offer will expire at 12:00 midnight, at the end of the day, New York City time, on Monday, June 10, 2024, unless extended..

2024年5月10日，该普通股的纳斯达克收盘价为每股53.06美元。除非延期，否则投标报价将于2024年6月10日（星期一）纽约市时间当天午夜12:00到期。。

A modified Dutch Auction tender offer allows stockholders to indicate how much stock they wish to tender and at what price within the range described above. Based on the number of shares tendered and the prices specified by the tendering stockholders, Incyte will determine the lowest price per share that will enable it to purchase $1.672 billion of common stock at such price, or a lower amount depending on the number of shares that are properly tendered and not properly withdrawn.

修改后的荷兰拍卖要约允许股东指出他们希望投标的股票数量以及在上述范围内的价格。根据投标股份的数量和投标股东指定的价格，Incyte将确定每股最低价格，使其能够以该价格购买16.72亿美元的普通股，或者根据正确投标和未正确撤回的股份数量确定较低的金额。

All stock purchased in the tender offer will be purchased at the same price, even if a stockholder tendered at a lower price, so in some cases Incyte may purchase stock at a price above the price indicated by the stockholder tendering that stock. Incyte will not purchase stock below a stockholder’s indicated price.

在要约收购中购买的所有股票都将以相同的价格购买，即使股东以较低的价格出价，因此在某些情况下，Incyte可能会以高于出价股东所示价格的价格购买股票。Incyte不会以低于股东指定价格的价格购买股票。

If the tender offer is fully subscribed, then $1.672 billion of common stock at the purchase price determined by Incyte will be purchased (subject to Incyte’s above-referenced ability to increase such numbers of shares), representing approximately 12.4 percent to 14.3 percent of outstanding common stock as of May 9, 2024, depending on the purchase price payable for those shares pursuant to the tender offer.

如果完全认购了要约收购，则将以Incyte确定的购买价格购买16.72亿美元的普通股（取决于Incyte上述增加此类股份数量的能力），截至2024年5月9日，约占已发行普通股的12.4%至14.3%，具体取决于根据要约收购应支付的购买价格。

Tenders of shares must be made prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration thereof..

股份投标必须在要约收购期满前进行，并可在要约收购期满前随时撤回。。

If, at the final purchase price, shares representing more than $1.672 billion of common stock at the applicable purchase price (or such greater number of shares as Incyte may choose to purchase without amending or extending the offer) are properly tendered and not properly withdrawn, Incyte will purchase shares tendered at or below that price on a pro rata basis.

如果在最终购买价格下，以适用购买价格（或Incyte在不修改或延长要约的情况下选择购买的更多股份）代表超过16.72亿美元普通股的股份被正确投标且未被正确撤回，Incyte将按比例购买以该价格或低于该价格投标的股份。

The tender offer will not be conditioned on any minimum number of shares being tendered and will not be subject to a financing condition; however, the tender offer is subject to a number of other conditions described in the tender offer documents..

投标报价不以投标股份的最低数量为条件，也不受融资条件的约束；但是，投标报价受投标报价文件中描述的许多其他条件的约束。。

While Incyte’s Board of Directors has authorized the Company to make the tender offer, none of Incyte, its Board of Directors, the dealer manager or the information agent makes any recommendation to any stockholder as to whether to tender or refrain from tendering any shares or as to the price or prices at which stockholders may choose to tender their shares.

虽然Incyte董事会已授权公司进行要约收购，但Incyte、董事会、经销商经理或信息代理均未就是否投标或不投标任何股份或股东可能选择的投标价格向任何股东提出任何建议。

Incyte has not authorized any person to make any such recommendation. Stockholders must decide whether to tender their shares and, if so, how many shares to tender and at what price or prices. In doing so, stockholders should carefully evaluate all of the information in the tender offer documents before making any decision with respect to the tender offer and should consult their own financial and tax advisors..

Incyte未授权任何人提出任何此类建议。股东必须决定是否投标其股份，如果是的话，投标多少股份以及以什么价格投标。在此过程中，股东应在就要约收购做出任何决定之前仔细评估要约收购文件中的所有信息，并应咨询自己的财务和税务顾问。。

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any shares of common stock. The solicitation and offer to buy common stock will only be made pursuant to the offer to purchase and the other tender offer documents. A free copy of the tender offer documents that will be filed by Incyte with the SEC may be obtained when filed from the SEC’s website at www.sec.gov or from Incyte’s website at www.incyte.com, or by calling D.F.

本新闻稿仅供参考，并非要约购买或要约出售任何普通股。招标和要约购买普通股将仅根据要约购买和其他要约收购文件进行。Incyte将向SEC提交的投标报价文件的免费副本可从SEC网站www.SEC.gov或Incyte网站www.Incyte.com或致电D.F.获得。

King & Co., Inc., the information agent for the tender offer, at (866) 864-4943 (toll free). Stockholders are urged to read these materials carefully prior to making any decision with respect to the offer. Stockholders who have questions may call the dealer manager for the tender offer, Goldman Sachs & Co.

King&Co.，Inc.，招标信息代理，电话（866）864-4943（免费）。敦促股东在就要约做出任何决定之前仔细阅读这些材料。有疑问的股东可以致电高盛公司的经销商经理进行收购要约。

LLC at (212) 902-8226 or D.F. King & Co., Inc. at the number above..

有限责任公司（212）902-8226或D.F.King&Co.，Inc.的上述号码。。

Stock Purchase Agreement

股票购买协议

The Company has entered into a stock purchase agreement with the Baker Entities. Under the stock purchase agreement, the Baker Entities have agreed not to tender or sell any shares in the tender offer and instead have agreed to sell to the Company, following completion of the offer, a pro rata number of shares based on the number of shares that the Company purchases in the offer such that the Baker Entities’ aggregate percentage ownership in the Company will be substantially equal to the Baker Entities’ current levels (the “Baker Entities Purchase”).

该公司已与贝克实体签订了股票购买协议。根据《股票购买协议》，贝克实体同意不在要约收购中投标或出售任何股份，而是同意在要约完成后，根据公司在要约中购买的股份数量按比例向公司出售股份，以便贝克实体在公司中的总拥有权百分比与贝克实体的当前水平基本相等（“贝克实体收购”）。

The Baker Entities Purchase will be at the same price per share as is determined and paid in the offer and is expected to occur on the 11th business day following the expiration of the offer. The closing of the Baker Entities Purchase is subject to the completion of the offer. Assuming that the offer is fully subscribed, the aggregate purchase price for the shares purchased pursuant to the stock purchase agreement is anticipated to be approximately $328.0 million.

Baker Entities的收购价格将与要约中确定和支付的每股价格相同，预计将在要约到期后的第11个工作日进行。Baker Entities收购的结束取决于要约的完成。假设要约已全部认购，根据股票购买协议购买的股票的总购买价格预计约为3.28亿美元。

The Baker Entities, in the aggregate, own 36,833,933 shares of common stock, representing in the aggregate beneficial ownership of approximately 16.4 percent of outstanding common stock as of May 9, 2024. If the tender offer is fully subscribed, the Company would repurchase a total of approximately $2.0 billion of its common stock through the tender offer and the stock purchase agreement (representing approximately 14.8 percent to 17.1 percent of the Company’s outstanding shares of common stock as of May 9, 2024, depending on the purchase price payable for those shares)..

截至2024年5月9日，贝克实体总共拥有36833933股普通股，占已发行普通股总受益所有权的约16.4%。如果完全认购了要约收购，公司将通过要约收购和股票购买协议回购总计约20亿美元的普通股（截至2024年5月9日，约占公司已发行普通股的14.8%至17.1%，具体取决于这些股票的购买价格）。。

About Incyte

关于Incyte

A global biopharmaceutical company on a mission to Solve On., Incyte follows the science to find solutions for patients with unmet medical needs. Through the discovery, development, and commercialization of proprietary therapeutics, Incyte has established a portfolio of first-in-class medicines for patients and a strong pipeline of products in Oncology and Inflammation & Autoimmunity.

Incyte是一家全球生物制药公司，其使命是解决on问题，它遵循科学原理，为未满足医疗需求的患者寻找解决方案。通过专利疗法的发现、开发和商业化，Incyte为患者建立了一流的药物组合，并在肿瘤学、炎症和自身免疫领域建立了强大的产品线。

Headquartered in Wilmington, Delaware, Incyte has operations in North America, Europe, and Asia. For additional information on Incyte, please visit Incyte.com..

Incyte总部位于特拉华州的威尔明顿，在北美、欧洲和亚洲都有业务。有关Incyte的更多信息，请访问Incyte.com。。

Forward-Looking Statements

前瞻性声明

Except for the historical information set forth herein, the matters set forth in this release contain predictions, estimates and other forward-looking statements, including any discussion of the following: the future outlook of our business, the strength of Incyte’s commercial product portfolio and clinical development pipeline, Incyte’s long-term value and potential for growth, our ability to do the stock repurchase while also preserving the flexibility to further add to the potential growth of our business, and statements about the expected tender offer, including the value of shares that we expect to purchase in the tender offer and whether we actually consummate the tender offer and the stock purchase from the Baker Entities..

除了本文所述的历史信息外，本新闻稿中所述的事项还包括预测、估计和其他前瞻性陈述，包括以下任何讨论：我们业务的未来前景、Incyte商业产品组合和临床开发渠道的实力、Incyte的长期价值和增长潜力、我们进行股票回购的能力，同时保持进一步增加我们业务潜在增长的灵活性，以及关于预期要约的陈述，包括我们预期在要约中购买的股票价值以及我们是否实际完成要约收购和从Baker实体购买的股票。。

These forward-looking statements are based on Incyte’s current expectations and subject to risks and uncertainties that may cause actual results to differ materially, including unanticipated developments in and risks related to: the acceptance of Incyte’s products and the products of Incyte’s collaboration partners in the marketplace; market competition; unexpected variations in the demand for Incyte’s products and the products of Incyte’s collaboration partners; the effects of announced or unexpected price regulation or limitations on reimbursement or coverage for Incyte’s products and the products of Incyte’s collaboration partners; sales, marketing, manufacturing and distribution requirements, including Incyte’s and its collaboration partners’ ability to successfully commercialize and build commercial infrastructure for newly approved products and any additional products that become approved; greater than expected expenses, including expenses relating to litigation or strategic activities; further research and development and the results of clinical trials possibly being unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development; the ability to enroll sufficient numbers of subjects in clinical trials and the ability to enroll subjects in accordance with planned schedules; determinations made by the FDA, EMA, and other regulatory agencies; Incyte’s dependence on its relationships with and changes in the plans of its collaboration partners; developments or changes in economic or market conditions; developments or changes in the securities markets, and other risks detailed in Incyte’s reports filed with the Securities and Exchange Commission, including its quarterly report on Form 10-Q for the quarter ended March 31, 2024.

这些前瞻性陈述基于Incyte目前的预期，并受到可能导致实际结果产生重大差异的风险和不确定性的影响，包括意外的发展和相关风险：市场上接受Incyte产品和Incyte合作伙伴的产品；市场竞争；对Incyte产品和Incyte合作伙伴产品的需求出现意外变化；宣布或意外的价格监管或限制对Incyte产品和Incyte合作伙伴产品的报销或保险范围的影响；销售、营销、制造和分销要求，包括Incyte及其合作伙伴成功商业化和为新批准的产品和任何其他获得批准的产品建立商业基础设施的能力；超出预期的费用，包括与诉讼或战略活动有关的费用；进一步的研究和开发以及临床试验结果可能不成功或不足以满足适用的监管标准或需要继续开发；能够在临床试验中招募足够数量的受试者，并能够按照计划的时间表招募受试者；FDA，EMA和其他监管机构做出的决定；Incyte对其与合作伙伴关系的依赖以及合作伙伴计划的变化；经济或市场状况的发展或变化；证券市场的发展或变化，以及Incyte向证券交易委员会提交的报告中详述的其他风险，包括截至2024年3月31日的10-Q表季度报告。

Incy.

Incy。