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What: Shares of biotech Incyte
So what: "The availability of Jakafi is a significant medical advancement for people living with myelofibrosis, a debilitating disease," said Incyte CEO Paul Friedman. However, only about 3,500 people in the U.S. are diagnosed with myelofibrosis every year, so today's late-day sell-off -- Incyte shares are now up only 4% -- might be a reflection of that limited market potential.
Now what: Incyte intends to launch Jakafi with partner Novartis
Interested in more info on Incyte? Add it to your watchlist.
Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Motley Fool newsletter services have recommended buying shares of Novartis. Try any of our Foolish newsletter services free for 30 days.