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            <filer>
                <filerCredentials>
                    <cik>0001615842</cik>
                    <ccc>XXXXXXXX</ccc>
                </filerCredentials>
            </filer>
            <liveTestFlag>LIVE</liveTestFlag>



        </filerInfo>
    </headerData>
    <formData>
        <issuerInfo>
            <issuerCik>0000879169</issuerCik>
            <issuerName>INCYTE CORPORATION</issuerName>
            <secFileNumber>001-12400</secFileNumber>
            <issuerAddress>
                <ns2:street1>1801 Augustine Cut-Off</ns2:street1>
                <ns2:city>Wilmington</ns2:city>
                <ns2:stateOrCountry>DE</ns2:stateOrCountry>
                <ns2:zipCode>19803</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>(302) 498-6700</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>BARRY P FLANNELLY</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>8th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>19164</noOfUnitsSold>
            <aggregateMarketValue>1149840.00</aggregateMarketValue>
            <noOfUnitsOutstanding>224540751</noOfUnitsOutstanding>
            <approxSaleDate>06/12/2024</approxSaleDate>
            <securitiesExchangeName>NASDAQ</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>07/02/2023</acquiredDate>
            <natureOfAcquisitionTransaction>Performance Shares</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>1188</amountOfSecuritiesAcquired>
            <paymentDate>07/02/2023</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>10/31/2016</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>63</amountOfSecuritiesAcquired>
            <paymentDate>10/31/2016</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>07/02/2021</acquiredDate>
            <natureOfAcquisitionTransaction>Performance Shares</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>2117</amountOfSecuritiesAcquired>
            <paymentDate>07/02/2021</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>07/02/2020</acquiredDate>
            <natureOfAcquisitionTransaction>Performance Shares</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>1187</amountOfSecuritiesAcquired>
            <paymentDate>07/02/2020</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>10/31/2019</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>222</amountOfSecuritiesAcquired>
            <paymentDate>10/31/2019</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>04/28/2023</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>360</amountOfSecuritiesAcquired>
            <paymentDate>04/28/2023</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>10/31/2017</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>67</amountOfSecuritiesAcquired>
            <paymentDate>10/31/2017</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>10/31/2018</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>127</amountOfSecuritiesAcquired>
            <paymentDate>10/31/2018</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>04/29/2022</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>361</amountOfSecuritiesAcquired>
            <paymentDate>04/29/2022</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>04/30/2020</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>520</amountOfSecuritiesAcquired>
            <paymentDate>04/30/2020</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>10/30/2020</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>81</amountOfSecuritiesAcquired>
            <paymentDate>10/30/2020</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>04/30/2019</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>233</amountOfSecuritiesAcquired>
            <paymentDate>04/30/2019</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>07/02/2022</acquiredDate>
            <natureOfAcquisitionTransaction>Performance Shares</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>2007</amountOfSecuritiesAcquired>
            <paymentDate>07/02/2022</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>04/28/2017</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>142</amountOfSecuritiesAcquired>
            <paymentDate>04/28/2017</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>04/30/2021</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>296</amountOfSecuritiesAcquired>
            <paymentDate>04/30/2021</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>04/30/2018</acquiredDate>
            <natureOfAcquisitionTransaction>Employee Stock Purchase Plan</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>307</amountOfSecuritiesAcquired>
            <paymentDate>04/30/2018</paymentDate>
            <natureOfPayment>Cash</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>01/17/2024</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>7807</amountOfSecuritiesAcquired>
            <paymentDate>01/17/2024</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>07/02/2023</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>913</amountOfSecuritiesAcquired>
            <paymentDate>07/02/2023</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>COMMON</securitiesClassTitle>
            <acquiredDate>07/02/2021</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>ISSUER</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>1166</amountOfSecuritiesAcquired>
            <paymentDate>07/02/2021</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>06/12/2024</noticeDate>
            <planAdoptionDates>
                <planAdoptionDate>02/20/2024</planAdoptionDate>
            </planAdoptionDates>
            <signature>/s/ Barry Paul Flannelly</signature>
        </noticeSignature>
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144
0001615842
XXXXXXXX
LIVE
0000879169
INCYTE CORPORATION
001-12400
1801 Augustine Cut-Off
Wilmington
DE
19803
(302) 498-6700
BARRY P FLANNELLY
Officer
Common
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
8th Floor
New York
NY
10004
19164
1149840.00
224540751
06/12/2024
NASDAQ
COMMON
07/02/2023
Performance Shares
ISSUER
N
1188
07/02/2023
Not Applicable
COMMON
10/31/2016
Employee Stock Purchase Plan
ISSUER
N
63
10/31/2016
Cash
COMMON
07/02/2021
Performance Shares
ISSUER
N
2117
07/02/2021
Not Applicable
COMMON
07/02/2020
Performance Shares
ISSUER
N
1187
07/02/2020
Not Applicable
COMMON
10/31/2019
Employee Stock Purchase Plan
ISSUER
N
222
10/31/2019
Cash
COMMON
04/28/2023
Employee Stock Purchase Plan
ISSUER
N
360
04/28/2023
Cash
COMMON
10/31/2017
Employee Stock Purchase Plan
ISSUER
N
67
10/31/2017
Cash
COMMON
10/31/2018
Employee Stock Purchase Plan
ISSUER
N
127
10/31/2018
Cash
COMMON
04/29/2022
Employee Stock Purchase Plan
ISSUER
N
361
04/29/2022
Cash
COMMON
04/30/2020
Employee Stock Purchase Plan
ISSUER
N
520
04/30/2020
Cash
COMMON
10/30/2020
Employee Stock Purchase Plan
ISSUER
N
81
10/30/2020
Cash
COMMON
04/30/2019
Employee Stock Purchase Plan
ISSUER
N
233
04/30/2019
Cash
COMMON
07/02/2022
Performance Shares
ISSUER
N
2007
07/02/2022
Not Applicable
COMMON
04/28/2017
Employee Stock Purchase Plan
ISSUER
N
142
04/28/2017
Cash
COMMON
04/30/2021
Employee Stock Purchase Plan
ISSUER
N
296
04/30/2021
Cash
COMMON
04/30/2018
Employee Stock Purchase Plan
ISSUER
N
307
04/30/2018
Cash
COMMON
01/17/2024
Restricted Stock
ISSUER
N
7807
01/17/2024
Not Applicable
COMMON
07/02/2023
Restricted Stock
ISSUER
N
913
07/02/2023
Not Applicable
COMMON
07/02/2021
Restricted Stock
ISSUER
N
1166
07/02/2021
Not Applicable
Y
06/12/2024
02/20/2024
/s/ Barry Paul Flannelly