Incyte calls 5.5% convertibles due 2007

By Laura Lutz

Des Moines, Sept. 26 - Incyte Corp. announced that it will redeem all of its 5.5% convertible subordinated notes due 2007.

The company plans to redeem the notes on Oct. 16.

Incyte will fund the redemption with proceeds from a $151.8 million principal amount offering of 3.5% convertibles that it completed on Sept. 26.

Wilmington, Del.-based Incyte develops drugs to treat cancer, inflammation, HIV and diabetes.

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