Press release
Incyte Reports 2023 Fourth Quarter and Year-End Financial Results, Provides 2024 Financial Guidance and Highlights R&D Priorities
Total FY'23 net product and royalty revenues of $3.7 billion (+14% Y/Y); total FY'23 net product revenues of $3.2 billion (+15% Y/Y) Jakafi® (ruxolitinib)
About this update from Incyte Corporation
[{"type":"text","content":"\n\nTotal FY'23 net product and royalty revenues of $3.7 billion (+14% Y/Y); total FY'23 net product revenues of $3.2 billion (+15% Y/Y)\n\n\n\n\nJakafi® (ruxolitinib) net revenues of $2.6 billion (+8%) for FY'23; Jakafi net revenues guidance range of $2,690 - $2,750 million for FY 2024\n\n\n\n\nOpzelura® (ruxolitinib) cream net revenues of $109 million in Q4'23 and $338 million for FY'23, driven by strong demand in atopic dermatitis and the successful launch in vitiligo\n\n\n\n\nAdvancing high potential pipeline provides opportunity for over 10 new launches by 2030\n\n\n\n\nIncyte to host an in-person and webcast investor event on Monday, March 11, 2024 from 9:00-10:30 a.m. PT to discuss key data presentations across its dermatology pipeline at the 2024 AAD Annual Meeting in San Diego, CA\n\n\n\nConference Call and Webcast Scheduled Today at 8:00 a.m. ET\n\n\n WILMINGTON, Del.--(BUSINESS WIRE)--\nIncyte (Nasdaq:INCY) today reports 2023 fourth quarter financial results, provides 2024 financial guidance and provides a status update on the Company’s research and development portfolio.\n\n\n\"We delivered a strong 2023 with total net product and royalty revenues of $3.7 billion, increasing 14% versus 2022. In the fourth quarter, we achieved for the first time, a new milestone of $1 billion in total quarterly revenues, driven by the continued growth of Jakafi® (ruxolitinib) and the successful launch of Opzelura® (ruxolitinib) cream,\" said Hervé Hoppenot, Chief Executive Officer, Incyte. \"Throughout 2023, we focused our R&D efforts on high potential programs and believe we are positioned to deliver more than ten high impact launches by 2030.\"\n\n\nKey Product Sales Performance\n\n\nJakafi:\n\n\nNet product revenues for the fourth quarter of 2023 of $695 million; 2023 full year net product revenues of $2.59 billion\n\n\n\nFourth quarter 2023 net product revenues grew 7% compared with the fourth quarter of 2022 and grew 8% for the full year 2023 when compared to 2022.\n\n\n\n\nFourth quarter revenues were negatively impacted by an increase in the number of Medicare Part D patients receiving free product and were positively impacted by an increase in channel inventory.\n\n\n\nOpzelura:\n\n\nNet product revenues for the fourth quarter of 2023 of $109 million; 2023 full year net product revenues of $338 million:\n\n\n\nNet product reve...