Latest news with #IncyteCorp
Yahoo
2 days ago
- Business
- Yahoo
Incyte Corp (INCY) Q2 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic ...
Total Product Revenues: $1.06 billion, a 17% increase year over year. Total Revenues: $1.2 billion, up 16% from the previous year. Jakafi Net Product Revenue: $764 million, representing an 8% growth year over year. Opzelura Net Product Revenue: $164 million, a 35% increase year over year. Niktimvo Net Product Revenue: $36 million, driven by strong commercial execution. Other Hematology and Oncology Products Revenue: $131 million, a 66% increase year over year. Operating Expenses: Increased 13% year over year, compared to a 16% increase in revenues. R&D Expenses: $495 million for the second quarter, an 8% increase year over year. SG&A Expenses: $331 million for the second quarter, a 16% increase year over year. Contract Dispute Settlement Benefit: $242 million from Novartis relating to Jakafi royalty payments. Full-Year Revenue Guidance for Jakafi: Raised to a range of $3 billion to $3.5 billion. Full-Year Revenue Guidance for Other Oncology Products: Raised to a range of $500 million to $520 million. COGS Guidance: Revised to 8% to 9% of net product revenues. Full-Year R&D Guidance: Increased by $35 million to a range of $1.965 billion to $1.995 billion. Warning! GuruFocus has detected 3 Warning Sign with INCY. Release Date: July 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Incyte Corp (NASDAQ:INCY) reported strong financial results with total product revenues of $1.06 billion, a 17% increase year over year. The company raised its full-year revenue guidance for Jakafi to a new range of $3 billion to $3.5 billion due to strong demand. Opzelura showed exceptional growth with a 35% increase in net product revenue year over year. Niktimvo's launch exceeded expectations with rapid adoption among BMT centers, achieving 82% account penetration. Incyte Corp (NASDAQ:INCY) is making excellent progress with its R&D pipeline, with several important product launches expected by 2030. Negative Points Incyte Corp (NASDAQ:INCY) faces the challenge of navigating through 2029 and transitioning to new durable product growth drivers. There have been R&D setbacks, and the company needs to convert scientific advancements into regulatory approvals and business results. The early-stage pipeline involves uncertainties, and the company must continuously assess and compare programs based on strategic importance and return on investment. The company is experiencing increased legal costs related to the Novartis contract dispute settlement. The development of '989 in MF has been delayed to ensure a comprehensive data set, pushing the release of data to later in the year. Q & A Highlights Q: Can you share your thoughts on the relative importance of the three therapeutic areas at Incyte: oncology, hematology, and immunology? Do any of those get prioritized in your strategic plan? A: MPNs (myeloproliferative neoplasms) are our most important therapeutic area right now. We have an asymmetrical advantage in that space and a window of opportunity to transform the treatment of these blood cancers. Targeting driver mutations in MPNs is crucial, and we have the potential to create a series of innovations starting with '989. Strategically, this is our number one priority. In immunology, we have a credible path to building a large product, particularly with Povorcitinib. In oncology, we will apply principles to ensure we make good decisions regarding solid tumors. Q: What are your expectations for the CALR data in MF, and is there a minimum threshold for monotherapy activity? A: Mechanistically, the mutant CALR antibody '989 should work similarly in MF as it does in ET. The safety and efficacy seen in ET increase the probability of success in MF. We expect to see improvement in MF in endpoints like spleen size reduction and symptom improvement. The development in MF will likely involve combination with Ruxolitinib, and we aim to present a comprehensive data set later this year. Q: Can you discuss the enthusiasm for Povorcitinib in the HS market and its competitive differentiation? A: HS is one of the most challenging conditions in dermatology. IL-17s don't work almost half the time, and HS involves multiple pathways. Povorcitinib has shown remarkable effects on pain and flare control, making it competitive. It could have a place in the treatment paradigm for HS, either as a starting option or following biologics. The totality of evidence suggests a place for Povorcitinib alongside IL-17s. Q: How do you plan to balance investment in pipeline advancement relative to external opportunities and near-term commercial performance? A: We focus on capital allocation, both internally and externally, without forcing any ratio. We aim to set a new high watermark for the company by getting our growth portfolio right, prioritizing R&D, managing costs, and executing business development effectively. We have a window of opportunity in MPNs to build a great business, and we will focus on converting science into results. Q: What are your thoughts on the peak opportunity for Niktimvo, and has the launch trajectory changed your view? A: It's hard to predict five years out, but the launch has been reassuring. The potential of Niktimvo will depend on getting it into combination with Jakafi and steroids, and developing a subcu formulation. The current trajectory suggests that Niktimvo could perform similarly to or better than REZUROCK, especially if additional indications are achieved. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Reuters
2 days ago
- Business
- Reuters
Incyte's new CEO outlines growth plan as Jakafi patent cliff nears
July 29 (Reuters) - Incyte Corp's (INCY.O), opens new tab new chief executive, Bill Meury, outlined a growth strategy on Tuesday focused on accelerating drug development and prudent capital allocation, as the company faces the looming patent expiration of its top-selling blood cancer drug, Jakafi. The drugmaker's shares rose nearly 8%. Speaking on his first earnings call since taking the helm in June, Meury said Incyte is preparing to transition to new growth drivers ahead of Jakafi's 2028 patent cliff. "We intend to build a comprehensive plan for acceleration that goes beyond just filling a revenue gap," Meury told analysts, emphasizing the company would take "a fresh look at this business, including our R&D productivity, operating expenses and capital allocation." Earlier in the day, Incyte raised its 2025 Jakafi sales forecast range to $3 billion to $3.05 billion, from $2.95 billion to $3 billion. Sales of Jakafi climbed 8% to $763.8 million in the quarter ended June 30 from a year ago, above the $754.4 million analysts had expected. The company is banking on Opzelura, its cream for vitiligo and mild-to-moderate atopic dermatitis, as a key growth driver. Opzelura's sales surged 35% to $164.5 million in the quarter, beating estimates of $160.4 million. Total revenue for the quarter rose to $1.22 billion, surpassing analysts' forecast of $1.15 billion. On an adjusted basis, Incyte earned $1.57 per share, exceeding estimates of $1.47. Despite the company's focus on capital discipline, it remained open to deal opportunities. Meury said strategically sourced, appropriately priced and well executed deals could add value, and that the company would be on the lookout for "de-risked pre-revenue or revenue stage opportunities." Cantor analyst Eric Schmidt described Meury as "a seasoned biotech leader with a commercial background and a sparkly track record of past M&A exits." "It sounds like Bill is singing from the same song book that we have advocated."
San Francisco Chronicle
3 days ago
- Business
- San Francisco Chronicle
Incyte: Q2 Earnings Snapshot
WILMINGTON, Del. (AP) — WILMINGTON, Del. (AP) — Incyte Corp. (INCY) on Tuesday reported second-quarter net income of $405 million. The Wilmington, Delaware-based company said it had profit of $2.04 per share. Earnings, adjusted for one-time gains and costs, came to $1.57 per share. The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share. The specialty drugmaker posted revenue of $1.22 billion in the period, also exceeding Street forecasts. Ten analysts surveyed by Zacks expected $1.15 billion. _____
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Business Standard
14-07-2025
- Business
- Business Standard
Sun Pharma launches hair loss drug Leqselvi in US after patent settlement
The delay in Sun Pharma's launch of Leqselvi in the US was caused by a patent infringement case, which was later settled in a US court with Incyte Corp New Delhi Sun Pharmaceutical has launched a new medicine for severe alopecia areata, called Leqselvi, in the United States. Alopecia areata is a condition in which the immune system attacks hair follicles, leading to hair loss on the scalp as well as other parts of the body. 'Leqselvi is an important step forward for people living with severe alopecia areata,' said Richard Ascroft, CEO of Sun Pharma North America. 8 mg Leqselvi tablets for severe alopecia areata is now available by prescription across the US. The delay in Sun Pharma's launch of Leqselvi in the US was caused by a patent infringement case, which was later settled in a US court with Incyte Corp, as reported by Reuters. The drug underwent two clinical trials, THRIVE-AA1 and THRIVE-AA2, involving 1,223 adults between 18 and 65 years of age. The trials were conducted in the US, Canada, and Europe. Hair regrowth was measured over a period of 24 weeks using a scoring system known as the Severity of Alopecia Tool (SALT), according to the company's statement. Shrikant Akolkar, analyst at Nuvama Institutional Equities, said the drug could generate up to $400 million in sales by FY30, with peak sales potential of $900 million, and boost growth in Sun's key US market, according to Reuters. The National Alopecia Areata Foundation (NAAF) welcomed the launch. Its President, Nicole Friedland, said the new treatment offers hope to many people dealing with the emotional and social impacts of hair loss. Sun Pharmaceutical is also offering a 'Leqselvi Support Program' to help patients access the medicine. Eligible patients may be able to receive the drug for as little as $0 for up to two years. The program also includes personal guidance and support throughout the treatment process. 'The clinical evidence for Leqselvi is truly compelling, demonstrating consistent efficacy," said Arash Mostaghimi, Vice Chair of Clinical Trials and Innovation and Associate Professor of Dermatology at Brigham and Women's Hospital. However, Leqselvi does carry certain risks. It may cause side effects such as infections, acne, headaches, or more serious health issues. Doctors are advised to screen patients thoroughly before and during treatment. Alopecia areata affects nearly 2.5 per cent of people in the United States during their lifetime. According to figures cited in the company's release, the condition also affects a similar percentage of the global population. The scalp is the most commonly affected area, but hair loss can also occur on other parts of the body.
Yahoo
14-07-2025
- Business
- Yahoo
India's Sun Pharma launches hair loss drug Leqselvi in US after patent settlement
By Rishika Sadam (Reuters) -India's top drugmaker by revenue Sun Pharma on Monday launched its anti-baldness drug Leqselvi in the U.S., following the settlement of a patent dispute with Incyte Corp. The company said 8 mg Leqselvi tablets for severe alopecia areata will be available in the U.S., after a launch delay caused by a patent infringement case in a U.S. court. Shrikant Akolkar, analyst at Nuvama Institutional Equities, said the drug could generate up to $400 million in sales by FY30, with peak sales potential of $900 million, and boost growth in Sun's key U.S. market. "This settlement is very positive and there is no overhang of any legal dispute anymore. The drug has very good clinical data and with this launch, Sun Pharma's commercial portfolio broadens further," he said. India's drugmakers have been grappling with pricing pressure and stiff competition in the U.S. The company said the drug's addition to its dermatology portfolio is a "key milestone", as it focuses on new therapy areas. Alopecia areata is an autoimmune disease that causes patchy hair loss on the scalp and other areas of the body. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
