Slide 1: 2022 Second Quarter Financial and Corporate Update
2022 Second Quarter Financial and Corporate Update AUGUST 2, 2022
Slide 2: Forward-Looking Statements
Forward-Looking Statements Except for the historical information set forth herein, the matters set forth in this presentation contain predictions, estimates and other forward-looking statements, including statements regarding: the opportunities for growth and diversification presented by Incyte’s po
Slide 3: Second Quarter Review
SECOND QUARTER REVIEW HERVÉ HOPPENOT – CEO
Slide 4: Total revenues grew 29% year-over-year; product revenues up 15%
Total revenues grew 29% year-over-year; product revenues up 15% Total Rev4 1,000 +29% Q2 2022 Q2’22/Q2’21 Revenues Growth (%) 900 MPNs & GVHD $598m +13% (Q2’22 +13% y/y) 800 Other Heme/Onc2 $26m -7% 700 (Q2’22 +8% y/y) Total Revenues ($m) $19m +6% 600 1 $23m +29% 500 $4m ─ 400 Dermatology $17m ─ 300
Slide 5: Opzelura vitiligo approval news widely celebrated by vitiligo community
Opzelura vitiligo approval news widely celebrated by vitiligo community 5
Slide 6: Multiple approvals for Jakavi, Olumiant and Tabrecta in Q2
Multiple approvals for Jakavi, Olumiant and Tabrecta in Q2 Approved as first post-steroid systemic treatment for acute and chronic graft- versus-host disease (GVHD) in Europe Approved as first and only systemic treatment for alopecia areata in the U.S., Europe and Japan Approved for non-small cell l
Slide 7: Pipeline progressing as we execute on strategy for growth and diversification
Pipeline progressing as we continue to execute on our strategy for growth and diversification Q2 Updates Next Wave of Growth Ruxolitinib Pediatric atopic dermatitis Dermatology Cream Chronic hand eczema (TRuE-CHE1 / CHE2) Hidradenitis suppurativa First and only FDA approved therapy for repig
Slide 8: U.S. Commercial Update
U.S. COMMERCIAL UPDATE BARRY FLANNELLY – GENERAL MANAGER, NORTH AMERICA
Slide 9: Continuous positive feedback on Opzelura to increase usage in AD
Continuous positive feedback on Opzelura to increase usage in AD Satisfaction1 % of respondents ever prescribed High satisfaction with Opzelura expected to 33% drive uptake 54% Low (1-3) HCPs that are highly satisfied with Opzelura has Moderate (4-7) increased from 46% to 67%1 67% High (8-10) 46
Slide 10: Strong demand for Opzelura; covered claims continue to rise
Strong demand for Opzelura; covered claims continue to rise Opzelura units shipped1 and % covered claims End Q2’22 5000 covered 54% claims Q2’22 was a transitional quarter 4500 50% # units shipped from wholesaler to pharmacies Coverage established for Opzelura with 3 largest GPO/PBMs 4000 NDC
Slide 11: Opzelura approved with broad label in nonsegmental vitiligo
Opzelura approved with broad label in nonsegmental vitiligo Vitiligo label highlights Approved for 12 years of age and older Apply to affected areas of up to 10% BSA Approved for continuous use anywhere on body No limits on duration of use 52-week efficacy data Satisfactory patient respons
Slide 12: Drive physician awareness of Opzelura value proposition in vitiligo
Drive physician awareness of Opzelura value proposition in vitiligo Prescriber >98% prescriber overlap between AD and vitiligo High level of satisfaction with Opzelura Educate on mechanism of action Message Compelling efficacy, establishing Opzelura as standard of care Set expectations to
Slide 13: Focus on raising awareness and supporting patients
Focus on raising awareness and supporting patients Raise awareness of Opzelura Driving patient Activate patients living with vitiligo adherence and compliance First and only therapy approved for repigmentation in vitiligo Co-pay as little as $10 Approved for continuous use, anywhere on the bod
Slide 14: Jakafi patient demand growing across all indications
Jakafi patient demand growing across all indications 20,000 % of patients by Q2’22 net sales $598m (+13% Y/ Y) indication end Q2’22 Total patients grew across all indications 15,000 MF: 43% New patients remain above pre-pandemic levels Patients on therapy1 GVHD patients grew 18% Y/Y, driven by
Slide 15: Monjuvi/Minjuvi and Pemazyre uptake continues
Monjuvi/Minjuvi and Pemazyre uptake continues Q2’22 net sales $23m 1 Q2’22 net sales $4m Q2’22 net sales $19m Monjuvi demand at highest since launch; improvement in Steady uptake and treatment of choice in eligible patients second-line penetration Continued progress with launch in Europe and J
Slide 16: Clinical Development
CLINICAL DEVELOPMENT STEVEN STEIN – CHIEF MEDICAL OFFICER
Slide 17: Robust clinical development program in dermatology
Robust clinical development program in dermatology Indication Patient Type Status Epidemiology (U.S.) Mild/Mod AD (≥12 yrs old) APPROVED 5.5 million drug-treated patients Atopic Dermatitis Mild/Mod AD (≥2 to <12 yrs old) Phase 3 (TRuE-AD3) 2-3 million pediatric patients1 Ruxolitinib 1.5 million+ dia
Slide 18: Evaluating treatment durability in vitiligo after stopping Opzelura
Evaluating treatment durability in vitiligo after stopping Opzelura TRuE-V1/2 Withdrawal and maintenance (~52 weeks) Baseline week 52 Cohort A Double-blind period Long-term safety (24 weeks) extension period 1.5% Opzelura BID (28 weeks) At Wk 52, patients who Randomized achieved ≥ F-VASI90 1:1 Vehic
Slide 19: INCA32459 (LAG-3xPD-1): Bispecific approach may provide differentiated clinical profile
INCA32459 (LAG-3xPD-1): Bispecific approach may provide differentiated clinical profile Dual reporter assay demonstrates simultaneous In a humanized mouse model, INCA32459 LAG3 and PD1 binding by INCA32459 is controls tumor growth better than combination of superior to independent blockade PD-1 and
Slide 20: Multiple opportunities to expand leadership in MPNs & GVHD
Multiple opportunities to expand leadership in MPNs & GVHD Asset Status Upcoming Data QD ruxolitinib FDA acceptance of NDA submission PDUFA of March 23, 2023 Phase 3 inadequate responder parsaclisib + ruxolitinib Top-line results in 2023 (inadequate responder) Phase 3 1st line BET + ruxolitinib POC
Slide 21: 2022 milestones: dermatology, hematology, royalties
1H 2022 2H 2022 QD ruxolitinib MF, PV, GVHD NDA submission MPNs/GVHD BET + ruxolitinib myelofibrosis Initial data ALK2 + ruxolitinib myelofibrosis Initial data Results from Part 1 itacitinib GVHD ─ (dose-finding) Oral PD-L1 solid tumors Lead program selection(s) Hematology / Oncology Other A2A/A
Slide 22: Financial Results
FINANCIAL RESULTS CHRISTIANA STAMOULIS – CFO
Slide 23: Non-GAAP Adjustments
Non-GAAP Adjustments Management has chosen to present financial highlights for the quarter and year-to-date periods ended June 30, 2022 and 2021 on both a GAAP and Non-GAAP basis in the belief that this Non-GAAP information is useful for investors. Management uses such information internally and
Slide 24: Financial Highlights: Revenues
Financial Highlights: Revenues $ millions Q2 2022 Q2 2021 YoY Change H1 2022 H1 2021 YoY Change GAAP GAAP GAAP GAAP Net product revenues 664 575 15% 1,270 1,080 18% Jakafi 598 529 13% 1,142 995 15% 1 Other Hematology/Oncology 50 46 8% 98 85 15% Opzelura 17 - NM 29 - NM Royalties 118 121 (2%) 240 220
Slide 25: 2022 Opzelura forecasted gross-to-net evolution
2022 Opzelura forecasted gross-to-net evolution Forecast Actual Fully Loaded GTN Steady State Discount Rate (40- 50%) end of 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Quarter End 25
Slide 26: Financial Highlights: Operating Expenses
Financial Highlights: Operating Expenses $ millions Q2 2022 Q2 2021 YoY Change H1 2022 H1 2021 YoY Change GAAP GAAP GAAP GAAP COGS 51 38 33% 93 67 39% As a percentage of net product revenues 8% 7% 7% 6% R&D 347 344 1% 701 650 8% R&D – ongoing 344 339 2% 678 634 7% R&D – upfront and milestones 3 5 -4
Slide 27: Financial Guidance: Full Year 2022
Financial Guidance: Full Year 2022 Current Previous Net product revenues Jakafi net product revenues $2.36 - $2.40 billion $2.33 - $2.40 billion Other Hematology/Oncology net product revenues(1) $210 - $240 million Unchanged Costs and expenses GAAP Cost of product revenues 6 – 7% of net product reve
Slide 28: Q&A
Q&A
Slide 29: Financial Back-Up Slides
s = FINANCIAL BACK-UP SLIDES
Slide 30: Financial Highlights: Q2
Financial Highlights: Q2 $ millions Q2 2022 Q2 2021 Q2 2022 Q2 2021 GAAP GAAP Non-GAAP Non-GAAP Net product revenues 664 575 664 575 Jakafi 598 529 598 529 Iclusig 26 28 26 28 Pemazyre 19 18 19 18 Minjuvi 4 - 4 - Opzelura 17 - 17 - Royalties 118 121 118 121 Jakavi 84 82 84 82 Olumiant 30 36 30 36 Ta
Slide 31: Financial Highlights: Year to Date
Financial Highlights: Year to Date $ millions H1 2022 H1 2021 H1 2022 H1 2021 GAAP GAAP Non-GAAP Non-GAAP Net product revenues 1,270 1,080 1,270 1,080 Jakafi 1,142 995 1,142 995 Iclusig 52 54 52 54 Pemazyre 37 31 37 31 Minjuvi 9 - 9 - Opzelura 29 - 29 - Royalties 240 220 240 220 Jakavi 155 148 155 1
Slide 32: 2022 Financial Guidance Non-GAAP Reconciliation
2022 Financial Guidance Non-GAAP Reconciliation GAAP Adjustments Non-GAAP Guidance Guidance Net product revenues Jakafi $2.36 – $2.4 billion - $2.36 – $2.4 billion Other Hematology/Oncology1 $210 – $240 million - $210 – $240 million Costs and expenses COGS 6 – 7% net product revenues Amortization of