Incyte Genomics Authorizes Stock Repurchase Program Palo Alto, CA – October 14, 2002 – Incyte Genomics, Inc. (Nasdaq: INCY) announced today that its board of directors, in the belief that the company's shares are significantly undervalued and represent an attractive investment opportunity, has authorized the expenditure of up to $30 million to repurchase shares of its common stock. Effective immediately, the company may purchase shares in open market and privately negotiated transactions at its discretion. About Incyte Genomics Incyte Genomics, Inc., has the largest commercial portfolio of issued United States patents covering human, full-length genes and the proteins they encode. Incyte is leveraging its leading intellectual property and genomic information position to be a leader in discovering and developing therapeutic small molecules, secreted proteins and antibodies. In addition, Incyte has developed the leading integrated platform of genomic technologies designed to aid in the understanding of the molecular basis of disease. Incyte develops and markets genomic databases and licenses pharmaceutically relevant intellectual property. These offerings facilitate pharmaceutical and biotechnology researchers in their drug discovery and development; including gene discovery, understanding disease pathways, identifying new disease targets and the discovery and correlation of gene sequence variation to disease. For more information, visit Incyte's web site at http://www.incyte.com. Except for the historical information contained herein, the matters set forth in this press release, including without limitation statements as to the amount to be expended on repurchasing Incyte's shares; the ability of Incyte's products and services to enhance the research efforts of its customers and Incyte's ability to leverage its intellectual property position to become a leader in the discovery and development of therapeutic small molecules, secreted proteins and antibodies, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the extent to which market and other conditions present buying opportunities in amounts and at prices deemed by Incyte's management to be attractive; the impact of competition and alternative technologies, processes and approaches on Incyte's business; Incyte's ability to compete against competitors that may have greater financial or other resources; changes in consumer demand for Incyte's products and services; economic factors that may impact Incyte's business; changes in Incyte's business plan; Incyte's ability to obtain patent protection for its discoveries and to continue to be effective in expanding its patent coverage; changes in patent laws; and other risks detailed from time to time in Incyte's SEC reports, including its Quarterly Report Form 10-Q for the Quarter ended June 30, 2002. Incyte disclaims any intent or obligation to update these forward-looking statements.