<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:ns2="http://www.sec.gov/edgar/common">
    <headerData>
        <submissionType>144</submissionType>
        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001236934</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>PAULA J SWAIN</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>E*TRADE FINANCIAL CORPORATION</name>
                <address>
                    <ns2:street1>3 EDISON DRIVE</ns2:street1>
                    <ns2:city>ALPHARETTA</ns2:city>
                    <ns2:stateOrCountry>GA</ns2:stateOrCountry>
                    <ns2:zipCode>30005</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>8449</noOfUnitsSold>
            <aggregateMarketValue>550276.61</aggregateMarketValue>
            <noOfUnitsOutstanding>224087695</noOfUnitsOutstanding>
            <approxSaleDate>09/01/2023</approxSaleDate>
            <securitiesExchangeName>NASDAQ</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>01/07/2019</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>1410</amountOfSecuritiesAcquired>
            <paymentDate>01/07/2019</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>07/15/2017</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>714</amountOfSecuritiesAcquired>
            <paymentDate>07/15/2017</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>07/05/2019</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>475</amountOfSecuritiesAcquired>
            <paymentDate>07/05/2019</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>07/15/2019</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>750</amountOfSecuritiesAcquired>
            <paymentDate>07/15/2019</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>07/05/2018</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>475</amountOfSecuritiesAcquired>
            <paymentDate>07/05/2018</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>07/15/2018</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>750</amountOfSecuritiesAcquired>
            <paymentDate>07/15/2018</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>01/08/2018</acquiredDate>
            <natureOfAcquisitionTransaction>Restricted Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>1996</amountOfSecuritiesAcquired>
            <paymentDate>01/08/2018</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>07/02/2019</acquiredDate>
            <natureOfAcquisitionTransaction>Performance Shares</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>728</amountOfSecuritiesAcquired>
            <paymentDate>07/02/2019</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>02/14/2017</acquiredDate>
            <natureOfAcquisitionTransaction>Performance Shares</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>1151</amountOfSecuritiesAcquired>
            <paymentDate>02/14/2017</paymentDate>
            <natureOfPayment>Not Applicable</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>09/01/2023</noticeDate>
            <planAdoptionDates>
                <planAdoptionDate>02/15/2023</planAdoptionDate>
            </planAdoptionDates>
            <signature>PAULA J SWAIN</signature>
        </noticeSignature>
    </formData>
</edgarSubmission>
[{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 7918}]
144
0001236934
XXXXXXXX
LIVE
0000879169
INCYTE CORPORATION
001-12400
1801 Augustine Cut-Off
Wilmington
DE
19803
(302) 498-6700
PAULA J SWAIN
Officer
Common
E*TRADE FINANCIAL CORPORATION
3 EDISON DRIVE
ALPHARETTA
GA
30005
8449
550276.61
224087695
09/01/2023
NASDAQ
Common
01/07/2019
Restricted Stock
Issuer
N
1410
01/07/2019
Not Applicable
Common
07/15/2017
Restricted Stock
Issuer
N
714
07/15/2017
Not Applicable
Common
07/05/2019
Restricted Stock
Issuer
N
475
07/05/2019
Not Applicable
Common
07/15/2019
Restricted Stock
Issuer
N
750
07/15/2019
Not Applicable
Common
07/05/2018
Restricted Stock
Issuer
N
475
07/05/2018
Not Applicable
Common
07/15/2018
Restricted Stock
Issuer
N
750
07/15/2018
Not Applicable
Common
01/08/2018
Restricted Stock
Issuer
N
1996
01/08/2018
Not Applicable
Common
07/02/2019
Performance Shares
Issuer
N
728
07/02/2019
Not Applicable
Common
02/14/2017
Performance Shares
Issuer
N
1151
02/14/2017
Not Applicable
Y
09/01/2023
02/15/2023
PAULA J SWAIN