Incyte to Buy Blood Disorder Biotech for Up to $2 Billion (1)

Incyte Corp. agreed to buy Vega Therapeutics Inc. for as much as $2 billion to gain potential new treatments for bleeding disorders.

Under the deal, Incyte will pay Vega’s parent, the closely held Star Therapeutics, $1.25 billion upfront and as much as $750 million in additional payments for achieving certain milestones, according to a statement Monday.

The acquisition bolsters Incyte’s product pipeline as its top drug, the blood cancer treatment Jakafi, faces patent expiration in a few years, eroding its revenue.

Incyte shares rose 1.3% when markets opened in New York. The stock was up 4% so far this ...