<SEC-DOCUMENT>0001628280-25-016582.txt : 20250403
<SEC-HEADER>0001628280-25-016582.hdr.sgml : 20250403
<ACCEPTANCE-DATETIME>20250403165243
ACCESSION NUMBER:		0001628280-25-016582
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250401
FILED AS OF DATE:		20250403
DATE AS OF CHANGE:		20250403

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Flannelly Barry P
		CENTRAL INDEX KEY:			0001615842
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12400
		FILM NUMBER:		25810416

	MAIL ADDRESS:	
		STREET 1:		ROUTE 141 AND HENRY CLAY ROAD
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19880

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INCYTE CORP
		CENTRAL INDEX KEY:			0000879169
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				943136539
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	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>4
<SEQUENCE>1
<FILENAME>wk-form4_1743713556.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-04-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000879169</issuerCik>
        <issuerName>INCYTE CORP</issuerName>
        <issuerTradingSymbol>INCY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001615842</rptOwnerCik>
            <rptOwnerName>Flannelly Barry P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1801 AUGUSTINE CUT-OFF</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WILMINGTON</rptOwnerCity>
            <rptOwnerState>DE</rptOwnerState>
            <rptOwnerZipCode>19803</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>EVP &amp; General Manager US</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-04-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>11159</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>44726</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-04-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>14976</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>59702</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares of common stock underlying performance shares earned upon the achievement of performance criteria determined to be satisfied on April 1, 2025. While Dr. Flannelly will retire from the Company on July 31, 2025, the earned shares will vest on November 30, 2025 in line with the retirement provisions of the plan.  Each performance share represents the right to receive one or more shares of common stock based on, and subject to, achievement of specified Opzelura performance goals. The number of shares of common stock that the Reporting Person is entitled to receive over the three year performance period ranges from 0% to 150% of the number of performance shares awarded.</footnote>
        <footnote id="F2">Represents the shares of common stock underlying performance shares earned upon the achievement of performance criteria determined to be satisfied on April 1, 2025.  The earned shares will vest on the third anniversary of the July 2, 2022 grant date, subject to the Reporting Persons continued service with the Issuer. Each performance share represents the right to receive one or more shares of common stock based on, and subject to, specified development, revenue and market-based (relative total shareholder returns compared to the Nasdaq Biotechnology Index) performance goals determined by the Issuers Compensation Committee in January 2022 as set forth in the Performance Share Award Agreement.  The number of shares of common stock that the Reporting Person is entitled to receive over the three year performance period ranges from 0% to 150% of the number of performance shares awarded.</footnote>
        <footnote id="F3">This includes an aggregate of 59,689 shares of common stock issuable pursuant to previously reported RSUs and earned performance shares that have not vested.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Elizabeth Feeney, Attorney-In-Fact</signatureName>
        <signatureDate>2025-04-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
