Press release
Incyte Reports 2024 Second Quarter Financial Results and Provides Updates on Key Clinical Programs
– Total revenues of $1,044 million in the second quarter (Q2'24) (+9% Y/Y) – Jakafi® (ruxolitinib) net product revenues of $706 million in Q2'24 (+3% Y/Y),
About this update from Incyte Corporation
[{"type":"text","content":"\n– Total revenues of $1,044 million in the second quarter (Q2'24) (+9% Y/Y)\n\n\n– Jakafi® (ruxolitinib) net product revenues of $706 million in Q2'24 (+3% Y/Y), total patients increased +7% Y/Y; raising the bottom end of full year 2024 guidance to a new range of $2,710 - $2,750 million\n\n\n– Opzelura® (ruxolitinib) net product revenues of $122 million in Q2'24 (+52% Y/Y); continued uptake in atopic dermatitis (AD) and vitiligo in the U.S.; launch momentum and reimbursement expansion in vitiligo in Europe\n\n\n– Incyte announces increased R&D focus on innovative high impact clinical programs; acquisition of Escient Pharmaceuticals completed\n\n\n– $2.0 billion share repurchase completed, underscoring confidence in commercial portfolio and R&D pipeline \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 2024 second quarter financial results, and provides a status update on the Company’s clinical development portfolio.\n\n\n\"In the second quarter of 2024, total revenues grew 9% year-over-year, surpassing $1.0 billion for the quarter. The commercial performance during this period was driven by strong patient demand for Opzelura® (ruxolitinib) and growth across all indications for Jakafi® (ruxolitinib),\" said Hervé Hoppenot, Chief Executive Officer, Incyte. \"In R&D, we completed a strategic review of our pipeline and have further intensified our focus on clinical programs that we believe can be transformational for patients. The $2.0 billion share repurchase completed during the second quarter, underscores our confidence in our commercial portfolio, clinical pipeline and Incyte's long-term value.\"\n\n\nTransformation of Pipeline\n\n\n\nIncyte announces a strategic review of its pipeline with an increased focus on high potential impact programs including, but not limited to:\n\n\n\n\nIAI/Dermatology: povorcitinib and MRGPRX2 and MRGPRX4, which were recently acquired from Escient Pharmaceuticals\n\n\n\n\n\nMPNs/GVHD: mCALR, JAK2V617Fi, BETi, and ALK2i\n\n\n\n\n\nOncology: CDK2i, KRASG12Di and TGFßR2×PD-1\n\n\n\n\n\n\n\n\nThe Company will discontinue further development of both oral, small molecule PD-L1 inhibitors, as well as LAG-3 monoclonal antibody, TIM-3 monoclonal antibody and LAG-3xPD-1 bispecific.\n\n\n\nRecent Company Updates\n\n\...