<SEC-DOCUMENT>0001104659-20-073153.txt : 20200615
<SEC-HEADER>0001104659-20-073153.hdr.sgml : 20200615
<ACCEPTANCE-DATETIME>20200615073203
ACCESSION NUMBER:		0001104659-20-073153
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20200615
DATE AS OF CHANGE:		20200615
EFFECTIVENESS DATE:		20200615

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INCYTE CORP
		CENTRAL INDEX KEY:			0000879169
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				943136539
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-239162
		FILM NUMBER:		20961909

	BUSINESS ADDRESS:	
		STREET 1:		1801 AUGUSTINE CUT-OFF
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19803
		BUSINESS PHONE:		3024986700

	MAIL ADDRESS:	
		STREET 1:		1801 AUGUSTINE CUT-OFF
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19803

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INCYTE CORP
		DATE OF NAME CHANGE:	20030318

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INCYTE GENOMICS INC
		DATE OF NAME CHANGE:	20000710

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INCYTE PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19930902
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tm2022470-1_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">As filed with the Securities and Exchange
Commission on June 15, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Registration No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="margin-top: 0; font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; margin-bottom: 0">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&nbsp;S&#45;8</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SECURITIES ACT OF 1933</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in"><FONT STYLE="font-size: 14pt"><B>INCYTE
CORPORATION&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">Delaware</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">94-3136539</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">(State or other jurisdiction of</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">(I.R.S. Employer</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">incorporation or organization)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">Identification No.)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1801 Augustine Cut-Off</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Wilmington, Delaware</B></P></TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 35%; font-size: 10pt; font-weight: bold; text-align: center; padding-left: 5.4pt">19803</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">(Zip Code)</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>1997 EMPLOYEE STOCK PURCHASE PLAN OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B></B> <B>INCYTE CORPORATION</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B></B> (Full title of the plan)</P>



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%; font-size: 10pt; text-align: center; padding-left: 5.4pt">HERV&Eacute; HOPPENOT</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 35%; font-size: 10pt; text-align: center; padding-left: 10pt">Copy to:</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 10pt">STANTON D. WONG</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">Incyte Corporation</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 10pt">Pillsbury Winthrop Shaw Pittman LLP</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt">1801 Augustine Cut-Off <BR>Wilmington, Delaware <BR>(302) 498-6700</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 10pt">Four Embarcadero Center, 22nd Floor <BR>San Francisco, California 94111 <BR>(415) 983-1000</TD>
    </TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt">(Name, address and telephone number, <BR>including area code, of agent for service)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule&nbsp;12b-2 of the Exchange Act.</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: bottom; width: 35%; text-align: center"><FONT STYLE="font-size: 10pt">Large accelerated filer&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; text-align: left"><FONT STYLE="font-size: 10pt">Accelerated&nbsp;filer&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Non-accelerated filer&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Do not check if a smaller reporting company)</P></TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Smaller reporting company&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Emerging growth company
        <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 7(a)(2)(B) of the Securities Act. <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Title of</FONT></TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Amount</FONT></TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Proposed Maximum</FONT></TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Proposed</FONT></TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Amount of</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Securities To</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">To Be</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Offering Price</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Maximum Aggregate</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Registration</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Be Registered</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Registered(1)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">per Share(2)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Offering Price(2)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">Fee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Common Stock, $.001 par value per share</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">750,000 shares</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$78.39</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$58,793,438</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">$7,631.39</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Calculated pursuant to General Instruction&nbsp;E to
Form S&#45;8.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(2)</TD><TD>Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h)(1) under the Securities Act of
1933, based upon the average of the high and low sales prices of the Registrant&#8217;s Common Stock on The Nasdaq Stock Market
on June 11, 2020, multiplied by 85%, which is the percentage of the trading price applicable to purchases under the Employee Stock
Purchase Plan.</TD></TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>INFORMATION REQUIRED PURSUANT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>TO GENERAL INSTRUCTION E TO FORM&nbsp;S&#45;8</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">General Instruction&nbsp;E Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Registration Statement is being filed
for the purpose of increasing the number of securities of the same class as other securities for which a Registration Statement
of the Registrant on Form&nbsp;S&#45;8 relating to the same employee benefit plan is effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Registrant&#8217;s Form S-8 Registration
Statements filed with the Securities and Exchange Commission on <A HREF="http://www.sec.gov/Archives/edgar/data/879169/0000950149-97-001374.txt" STYLE="-sec-extract: exhibit">July 16, 1997</A> (File No. 333-31409), <A HREF="http://www.sec.gov/Archives/edgar/data/879169/000095000800000233/0000950008-00-000233-0001.txt" STYLE="-sec-extract: exhibit">October 3, 2000</A> (File No. 333-47180),
<A HREF="http://www.sec.gov/Archives/edgar/data/879169/000101287001501655/ds8.txt" STYLE="-sec-extract: exhibit">August 15, 2001</A> (File No. 333-67596), <A HREF="http://www.sec.gov/Archives/edgar/data/879169/000101287002002878/ds8.htm" STYLE="-sec-extract: exhibit">June 28, 2002</A> (File No. 333-91540), <A HREF="http://www.sec.gov/Archives/edgar/data/879169/000119312503038569/ds8.htm" STYLE="-sec-extract: exhibit">August 15, 2003</A> (File No. 333-108013), <A HREF="http://www.sec.gov/Archives/edgar/data/879169/000110465906037592/a06-12585_1s8.htm" STYLE="-sec-extract: exhibit">May 25, 2006</A> (File
No. 333-134472), <A HREF="http://www.sec.gov/Archives/edgar/data/879169/000110465908040457/a08-16807_1s8.htm" STYLE="-sec-extract: exhibit">June 17, 2008</A> (File No. 333-151715), <A HREF="http://www.sec.gov/Archives/edgar/data/879169/000110465909038378/a09-15708_3s8.htm" STYLE="-sec-extract: exhibit">June 16, 2009</A> (File No. 333-160007), <A HREF="http://www.sec.gov/Archives/edgar/data/879169/000110465910033920/a10-11914_2s8.htm" STYLE="-sec-extract: exhibit">June 15, 2010</A> (File No. 333-167528),
<A HREF="http://www.sec.gov/Archives/edgar/data/879169/000110465911034854/a11-14920_2s8.htm" STYLE="-sec-extract: exhibit">June 15, 2011</A> (File No. 333-174919) and <A HREF="http://www.sec.gov/Archives/edgar/data/879169/000110465916128056/a16-13524_1s8.htm" STYLE="-sec-extract: exhibit">June 17, 2016</A> (File No. 333-212102) are hereby incorporated by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Part II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Information Required in the Registration
Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in">Item 3.</TD><TD>Incorporation of Documents by Reference.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following documents previously filed
by Registrant with the Securities and Exchange Commission are hereby incorporated by reference in this Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/879169/000155837020000774/incy-20191231x10k6c65b7.htm" STYLE="-sec-extract: exhibit">(1)</A></TD><TD><A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/879169/000155837020000774/incy-20191231x10k6c65b7.htm" STYLE="-sec-extract: exhibit">Registrant&#8217;s Annual Report on Form&nbsp;10&#45;K for the year ended December&nbsp;31, 2019;</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/879169/000155837020005185/incy-20200505x10q.htm" STYLE="-sec-extract: exhibit">(2)</A></TD><TD><A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/879169/000155837020005185/incy-20200505x10q.htm" STYLE="-sec-extract: exhibit">Registrant&#8217;s Quarterly Report on Form 10-Q for the quarter ended March&nbsp;31, 2020;</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD>Registrant&#8217;s Current Reports on Form 8-K filed on <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/879169/000110465920004738/tm203494-1_8k.htm" STYLE="-sec-extract: exhibit">January 16, 2020</A>, <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/879169/000110465920038786/tm2013772d1_8k.htm" STYLE="-sec-extract: exhibit">March 26, 2020</A>, <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/879169/000110465920048459/tm2016119-1_8k.htm" STYLE="-sec-extract: exhibit">April 20, 2020</A>, <A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/879169/000110465920061625/tm2019767d1_8k.htm" STYLE="-sec-extract: exhibit">May 14, 2020</A>, and
<A HREF="http://www.sec.gov/ix?doc=/Archives/edgar/data/879169/000110465920066387/tm2021010d1_8k.htm" STYLE="-sec-extract: exhibit">May 27, 2020</A>; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(4)</TD><TD STYLE="text-align: justify">The description of the Common Stock contained in Registrant&#8217;s
Registration Statement on Form &#9;&#9;8-A filed January 5, 1996.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, all documents subsequently
filed by Registrant pursuant to Section&nbsp;13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, prior to the filing
of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the
date of filing of such documents. The Registrant is not, however, incorporating, in each case, any documents or information that
the Registrant is deemed to furnish and not file in accordance with Securities and Exchange Commission rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><B>Item 8.</B></TD><TD><B>Exhibits</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">Exhibit</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Number</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt; border-bottom: Black 1pt solid; vertical-align: bottom">Exhibit</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="vertical-align: bottom; width: 10%; font-size: 10pt; text-align: center"><A HREF="tm2022470d1_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 88%; font-size: 10pt; text-align: left"><A HREF="tm2022470d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Pillsbury Winthrop Shaw Pittman LLP.</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center"><A HREF="tm2022470d1_ex23-1.htm" STYLE="-sec-extract: exhibit">23.1</A></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="tm2022470d1_ex23-1.htm" STYLE="-sec-extract: exhibit">Consent of Ernst &amp; Young LLP, Independent Registered Public Accounting Firm.</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center"><A HREF="tm2022470d1_ex5-1.htm" STYLE="-sec-extract: exhibit">23.2</A></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="tm2022470d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Pillsbury Winthrop Shaw Pittman LLP (included in Exhibit 5.1).</A></TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>SIGNATURES</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form&nbsp;S&#45;8, and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Wilmington, State of Delaware, on June 15, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">INCYTE CORPORATION</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%"><FONT STYLE="font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%"><FONT STYLE="font-size: 10pt">/s/ Herv&eacute; Hoppenot</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Herv&eacute; Hoppenot</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief Executive Officer</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 238.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>POWER OF ATTORNEY</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">KNOW ALL MEN BY THESE PRESENTS, that each
person whose signature appears below constitutes and appoints Herv&eacute; Hoppenot, Christiana Stamoulis, and Maria E. Pasquale,
and each of them, his or her true and lawful attorneys-in-fact and agents, each with full power of substitution and re-substitution,
for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments, including post-effective
amendments, to this Registration Statement, and to file the same, with exhibits thereto and other documents in connection therewith,
with the Securities and Exchange Commission granting unto said attorneys-in-fact and agents, and each of them, full power and authority
to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he or
she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or his or her substitute
or substitutes, may do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, this Registration Statement has been signed by the following persons in the capacities and on the date indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 30%; vertical-align: bottom"><B>Signature</B></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><B>Title</B></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%"><B>&nbsp;</B></TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 20%; vertical-align: bottom"><B>Date</B></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom">/s/ Herv&eacute; Hoppenot  </TD>
    <TD>&nbsp;</TD>
<TD>President and Chief Executive Officer (Principal Executive Officer) and Chairman</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">June 15, 2020</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; vertical-align: bottom"> Herv&eacute; Hoppenot</TD>
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom">/s/ Christiana Stamoulis  </TD>
    <TD>&nbsp;</TD>
<TD>Executive Vice President and Chief Financial Officer (Principal Financial Officer)</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">June 15, 2020</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; vertical-align: bottom"> Christiana Stamoulis</TD>
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom">/s/ Paul Trower </TD>
    <TD>&nbsp;</TD>
<TD>Division Vice President, Finance and Principal Accounting Officer (Principal Accounting Officer)</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">June 15, 2020</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: center; vertical-align: bottom"> Paul Trower </TD>
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0.05in; padding-left: 0.05in; vertical-align: bottom; width: 30%"><B>Signature</B> &nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0.05in; padding-left: 0.05in; vertical-align: bottom"><B>Title</B> &nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid; text-align: center; padding-right: 0.05in; padding-left: 0.05in; vertical-align: bottom; width: 20%"><B>Date</B> &nbsp;</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center">/s/ Julian C. Baker</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Director</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">June 15, 2020</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">Julian C. Baker</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center">/s/ Jean-Jacques Bienaim&eacute;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Director</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">June 15, 2020</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">Jean&#45;Jacques Bienaim&eacute;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center">/s/ Paul J. Clancy</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Director</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">June 15, 2020</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">Paul J. Clancy</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center">/s/ Wendy L. Dixon</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Director</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">June 15, 2020</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">Wendy L. Dixon</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center">/s/ Jacqualyn A. Fouse</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Director</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">June 15, 2020</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">Jacqualyn A. Fouse</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center">/s/ Paul A. Friedman</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Director</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">June 15, 2020</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">Paul A. Friedman</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center">/s/ Edmund P. Harrigan</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Director</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">June 15, 2020</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">Edmund P. Harrigan</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
<TR>
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center">/s/ Katherine A. High</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Director</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">June 15, 2020</TD></TR>
<TR>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">Katherine A. High</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in">&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD STYLE="padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>EXHIBIT INDEX</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">Exhibit</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">Number</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: center; font-size: 10pt; border-bottom: Black 1pt solid; vertical-align: bottom">Description of Exhibit</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; width: 10%; font-size: 10pt; text-align: center"><A HREF="tm2022470d1_ex5-1.htm" STYLE="-sec-extract: exhibit">5.1</A></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 89%; font-size: 10pt; text-align: left"><A HREF="tm2022470d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Opinion of Pillsbury Winthrop Shaw Pittman LLP.</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center"><A HREF="tm2022470d1_ex23-1.htm" STYLE="-sec-extract: exhibit">23.1</A></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="tm2022470d1_ex23-1.htm" STYLE="-sec-extract: exhibit">Consent of Ernst &amp; Young LLP, Independent Registered Public Accounting Firm.</A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center"><A HREF="tm2022470d1_ex5-1.htm" STYLE="-sec-extract: exhibit">23.2</A></TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left"><A HREF="tm2022470d1_ex5-1.htm" STYLE="-sec-extract: exhibit">Consent of Pillsbury Winthrop Shaw Pittman LLP (included in Exhibit 5.1).</A></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm2022470d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: right">Exhibit 5.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PILLSBURY WINTHROP SHAW PITTMAN LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Four Embarcadero Center, 22nd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">San Francisco, California 94111</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June 15, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Incyte Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1801 Augustine Cut-Off</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Wilmington, Delaware 19803</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD STYLE="padding-right: 0.5in">Registration Statement on Form S-8</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">We are acting as counsel for Incyte Corporation,
a Delaware corporation (the &#8220;Company&#8221;), in connection with the Registration Statement on Form&nbsp;S&#45;8 (the &#8220;Registration
Statement&#8221;) relating to the registration under the Securities Act of 1933 (the &#8220;Act&#8221;) of 750,000 shares of the
Company&#8217;s Common Stock, $.001 par value per share (the &#8220;Shares&#8221;), issuable pursuant to the 1997 Employee Stock
Purchase Plan of Incyte Corporation (the &#8220;Plan&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">We have reviewed and are familiar with such
corporate proceedings and other matters as we have deemed necessary for the opinions expressed in this letter. Based upon the foregoing,
we are of the opinion that the Shares have been duly authorized and, when issued and sold in accordance with the Plan, will be
validly issued, fully paid and nonassessable. The opinions set forth in this letter are limited to the General Corporation Law
of the State of Delaware, as in effect on the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">We hereby consent to the filing of this opinion
letter as Exhibit&nbsp;5.1 to the Registration Statement. In giving this consent, we do not thereby admit that we are within the
category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Securities and Exchange
Commission promulgated thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">/s/
    <FONT STYLE="font-variant: small-caps">Pillsbury Winthrop Shaw Pittman</FONT> LLP</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>tm2022470d1_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 23.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">We consent to the incorporation by reference
in the Registration Statement (Form&nbsp;S-8) pertaining to the 1997 Employee Stock Purchase Plan of Incyte Corporation of our
reports dated February 13, 2020, with respect to the consolidated financial statements of Incyte Corporation and the effectiveness
of internal control over financial reporting of Incyte Corporation included in its Annual Report (Form&nbsp;10-K) for the year
ended December 31, 2019, filed with the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">/s/ Ernst &amp; Young LLP</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Philadelphia, Pennsylvania</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">June 15, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>


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