The multi-million dollar conversion of the former Wanamker store near Wilmington into a corporate headquarters and research center for Incyte, Inc. will be marked with a ribbon cutting ceremony on Friday.
Incyte had been located in the DuPont Experimental Station, but moved to the site on Augustine Cut-off as it expands to more than 550 employees.
Hiring has been brisk at the company in a county that has seen the departure of research and other jobs at AstraZeneca.
The company moved from California to Delaware in 2002 under the leadership of a former DuPont pharmaceutical executive.
The company’s breakthrough drug Jakafi, received Food and Drug Administration approval in 2011 to treat a blood disorder. Jakafi is the first in a new class of drugs, known as JAK inhibitor. R&D efforts are continuing on new drugs and expanded uses for Jakafi. Shares of Incyte were trading at more than $69 this week.
Total stock market value of the company is $11.7 billion
Incyte received assistance from Delaware Economic Development Office and who’s who of public officials are expected to be on hand for the event.
