Gilead (Nasdaq: GILD) is close to an agreement to acquire Delaware-based biopharmaceutical company Incyte (Nasdaq: INCY), according to a person claiming to have knowledge of the matter. Talks are said to be at an advanced stage but specifics on timing and price weren't mentioned.Gilead, based in California, has been under intense pressure from investors to find a way to convert its multi-billion cash hoard into growth, but recent efforts have fallen flat.Amid criticism from some investors and Wall Street analysts, management at Gilead acknowledged on its fourth quarter conference call that growth would be challenging over the next couple of years without some sort of acquisition, stoking speculation about a takeover of Incyte or another biotech. But in some circles patience has worn thin.While Gilead has contemplated its next move, Incyte hasn't gotten any cheaper. Shares of the oncology-focused company are up 40% this year alone and it has continued to climb, making fresh highs near $140 per share in recent days.Incyte's lead asset is Jakafi, an approved drug for treatment of patients with several types of rare blood cancers and the first FDA-approved janus associated kinases (JAK) inhibitor for any indication. Trial results from Gilead’s developmental JAK compound, momelotibib, have been disappointing in comparison.Representatives for Gilead said it doesn't comment on speculation about M&A. Incyte did not respond to requests to comment on the rumor.