Incyte joins S&P 500

Incyte, the Delaware-based pharmaceutical research firm, has joined the S&P 500 Index.

The index includes the most-owned stocks on the New York Stock Exchange and Nasdaq, the two largest exchanges in the United States.

Incyte pushed out Spectra Energy Corp, a natural gas company in the midst of an acquisition by Enbridge.

There are now two Delaware-based companies on the S&P 500, including DuPont and now Incyte.

The company recently reported a profitable 2016, in part due to sales of its cancer-treating drug Jakafi.