Incyte buys Ariad’s European operations

Incyte has agreed to acquire the European operations of the oncology drug firm Ariad Pharmaceuticals. In addition, Incyte will obtain an exclusive license to develop and commercialize the Ariad cancer drug Iclusig, a kinase inhibitor, in Europe and countries including Russia, Israel, and Switzerland. Incyte will pay Ariad $140 million plus sales royalties and as much as $135 million in development and regulatory milestone payments.