Incyte restructures

INCY will divest or halt its custom genomics businesses, including microarray production and transgenics, to focus on its LifeSeq database. INCY also will discontinue by year end its internal therapeutic SNP discovery program. Furthermore, INCY will reduce its workforce to 700 from 1,100, and will close its Fremont, Calif. facilities and its SNP facilities in the U.K. that were acquired through INCY's 1998 purchase of Hexagen ( Cambridge, U.K.). ...