Incyte Warns of Larger Losses, Signs Millennium Deal, Expands Others

Oct 07, 1999

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PALO ALTO, Calif.--Incyte Pharmaceuticals warned investors last week that it will report a larger than expected third-quarter loss. Roy Whitfield, Incyte's CEO, attributed the results to lengthy deal cycles and delays in finalizing two government contracts, but analysts and industry insiders speculated that increased competition in the genomic database market is leading to data commoditization and eroding prices.

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