On Friday ( 24th February) shares of Incyte closed more than 7 percent higher on news that the pharmaceutical company will join the S&P 500, replacing Spectra Energy from Tuesday 28th Febraury.
Incyte specializes in oncology products and will be added to the S&P 500’s biotechnology sub-industry index, according to the S&P Dow Jones Indices press release.
Incyte shares hit a 52-week high Friday and are up about 30 percent for the year so far.
Source: CNBC
