Incyte Names New Member to Its Board of Directors

Rhea-AI Summary

Incyte announces the appointment of Susanne Schaffert, Ph.D., to its Board of Directors. Schaffert brings over 26 years of experience from Novartis AG, including her most recent role as President of Novartis Oncology. Incyte's CEO, Hervé Hoppenot, emphasized the value of her extensive expertise in commercial and development sectors to support the company's growth. Schaffert expressed enthusiasm for her new role, focusing on scientific innovation and developing new medications for patient needs.

Positive

• Susanne Schaffert appointed to the Board of Directors, bringing extensive industry experience.
• Her background in oncology could enhance Incyte's strategic direction and development efforts.

Negative

• Potential concerns regarding the continuity of leadership and experience gaps following the appointment.

WILMINGTON, Del.--(BUSINESS WIRE)-- Incyte (Nasdaq:INCY) announces the appointment of Susanne Schaffert, Ph.D., as a new member of its Board of Directors.

“On behalf of the Incyte Board of Directors, I am happy to welcome Susanne. Her extensive commercial, development and industry experience will greatly complement our Board and we look forward to Susanne’s contributions to our continued growth and future success,” said Hervé Hoppenot, Chief Executive Officer, Incyte.

“I am very excited for the opportunity to join the Incyte Board of Directors and helping the organization in its commitment to leading scientific innovation and developing new medicines for patients in need. I look forward to being part of this dynamic Company,” said Dr. Schaffert.

For 26 years, Dr. Schaffert served in various global, regional and national roles of increasing responsibilities at Novartis AG including, most recently, as President of Novartis Oncology where she oversaw a very broad portfolio in Solid Tumors and Hematology. Prior to that role, Dr. Schaffert served from 2018 to 2019 as President and Chair of Accelerated Advanced Applications, launching the first radio-ligand therapy in Neuroendocrine tumors, and from 2012 to 2018 as General Manager Region Europe, Novartis Oncology. Prior to those positions, Dr. Schaffert was Global Head of Investor Relations, Global Franchise Head for Immunology and Transplantation and held a series of positions in sales and marketing from the time she joined Novartis Germany in 1995. Dr. Schaffert is also a member of the board of directors of Rubius Therapeutics, Inc.

About Incyte
Incyte is a Wilmington, Delaware-based, global biopharmaceutical company focused on finding solutions for serious unmet medical needs through the discovery, development and commercialization of proprietary therapeutics. For additional information on Incyte, please visit Incyte.com and follow @Incyte.

Forward-Looking Statements
Except for the historical information set forth herein, the matters set forth in this press release contain predictions, estimates and other forward-looking statements. These forward-looking statements are based on the Company’s current expectations and subject to risks and uncertainties that may cause actual results to differ materially, including risks related to market competition, the results of and risks associated with research and development, risks and uncertainties associated with sales, marketing and distribution requirements, and other risks detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission, including its annual report and its quarterly report on Form 10-Q for the quarter ended June 30, 2022. Incyte disclaims any intent or obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221004005151/en/

Media

Catalina Loveman

+1 302 498 6171

cloveman@incyte.com

Investors

Christine Chiou

+1 302 274-4773

cchiou@incyte.com

Source: Incyte

FAQ

What is the significance of Susanne Schaffert's appointment to Incyte's Board of Directors?

Susanne Schaffert's appointment is significant as she brings 26 years of experience from Novartis, particularly in oncology, which may strengthen Incyte's development strategies.

How might Susanne Schaffert's experience impact Incyte's future?

Her extensive background in commercial and development roles is likely to positively influence Incyte's growth and innovation strategies.

What previous roles did Susanne Schaffert hold before joining Incyte's Board?

Prior to joining Incyte, Dr. Schaffert was President of Novartis Oncology and held various leadership positions at Novartis over her 26-year tenure.

What is Incyte's focus as a biopharmaceutical company?

Incyte focuses on developing proprietary therapeutics to address serious unmet medical needs.

Who is the CEO of Incyte and what did he say about the new appointment?

Incyte's CEO, Hervé Hoppenot, welcomed Dr. Schaffert, highlighting her extensive experience as a key asset to the Board.