-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KX2k3OdBmCvBT7XI+SA1J+jK7AyXZ/8n8Hp+V+K9pWJeIJWEaL3PyLwQ5YCAwgvz
 TLTtko0zZyD5aAnjAZfb1Q==

<SEC-DOCUMENT>0001256071-09-000005.txt : 20090211
<SEC-HEADER>0001256071-09-000005.hdr.sgml : 20090211
<ACCEPTANCE-DATETIME>20090210185609
ACCESSION NUMBER:		0001256071-09-000005
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20090211
DATE AS OF CHANGE:		20090210

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INCYTE CORP
		CENTRAL INDEX KEY:			0000879169
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				943136539
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-42713
		FILM NUMBER:		09587201

	BUSINESS ADDRESS:	
		STREET 1:		ROUTE 141 & HENRY CLAY ROAD
		STREET 2:		BUILDING E336
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19880
		BUSINESS PHONE:		3024986700

	MAIL ADDRESS:	
		STREET 1:		ROUTE 141 & HENRY CLAY ROAD
		STREET 2:		BUILDING E336
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19880

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INCYTE CORP
		DATE OF NAME CHANGE:	20030318

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INCYTE GENOMICS INC
		DATE OF NAME CHANGE:	20000710

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INCYTE PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19930902

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PLATINUM INVESTMENT MANAGEMENT LTD
		CENTRAL INDEX KEY:			0001256071
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		C/O PLATINUM INVESTMENT MANAGEMENT
		STREET 2:		LEVEL 8, 7 MACQUARIE PLACE
		CITY:			SYDNEY AUSTRALIA 2000
		STATE:			C3
		ZIP:			00000
		BUSINESS PHONE:		61292557533

	MAIL ADDRESS:	
		STREET 1:		C/O PLATINUM INVESTMENT MANAGEMENT
		STREET 2:		LEVEL 8, 7 MACQUARIE PLACE
		CITY:			SYDNEY AUSTRALIA 2000
		STATE:			C3
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PLATINUM ASSET MANAGEMENT LTD
		DATE OF NAME CHANGE:	20030722
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>incyte81.txt
<TEXT>
Item 1.

(a)  Incyte Corp

(b)   Experimental Station
      Route 141 & Henry Clay Rd
      Building E336, Wilmington, Delaware 19880

Item 2.

(a) Platinum Investment Management Limited

(b)  Level 8,7 Macquarie Place
     Sydney NSW 2000
     Australia
(c)  Australia
(d)  Common Stock
(e)  45337C102

Item 3.
N/A

Item 4.

(a) 2,691,953
(b) 2.8%
(c) (i) 2,691,953
(ii) 0
(iii) 2,691,953
(iv) 0

Item 5
Yes

Item 6
No

Item 7
N/A

Item 8
N/A

Item 9
N/A



Item 10
(a) N/A
(b) By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.



After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information
set forth in this statement is true, complete and correct.




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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