As comedian Brian Regan famously noted, cranberry juice does seem to be added to everything these days. There's cran-apple juice, cran-grape juice, and even cran-strawberry juice.
That's how it's starting to seem with Incyte Pharmaceuticals (NASDAQ:INCY) and its immuno-oncology drug INCB24360 lately. In February, the biotech agreed to test INCB24360 in conjunction with Merck's PD-1 inhibitor MK-3475. In mid May, the biotech committed to test the drug with AstraZeneca's PD-L1 inhibitor MEDI4736. And earlier this week, Incyte signed yet another agreement to test INCB24360 with another immuno-oncology drug, this time with Bristol-Myers Squibb (NYSE:BMY) and its nivolumab.
Quite a bit of dealmaking there. So what's behind it?
In the video below, from Market Checkup, the Motley Fool's health care-focused investing show, health care analysts Michael Douglass and David Williamson lay out the deal and why so many companies want this drug added to their immuno-oncology arsenal.
Looking for something even sweeter for your portfolio?
Give me five minutes and I'll show how you could own the best stock for 2014. Every year, The Motley Fool's chief investment officer hand-picks 1 stock with outstanding potential. But it's not just any run-of-the-mill company. It's a stock perfectly positioned to cash in on one of the upcoming year's most lucrative trends. Last year his pick skyrocketed 134%. And previous top picks have gained upwards of 908%, 1,252% and 1,303% over the subsequent years! Believe me, you don't want to miss what could be his biggest winner yet! Just click here to download your free copy of "The Motley Fool's Top Stock for 2014" today.
David Williamson has no position in any stocks mentioned. Michael Douglass has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.