Incyte reports Q2 EPS ($1.82), consensus ($1.55)

Reports Q2 revenue $1.04B, consensus $1.03B..Jakafi or ruxolitinib, net product revenues of $706M 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 – $2,750M…”In the second quarter of 2024, total revenues grew 9% year-over-year, surpassing $1B for the quarter. The commercial performance during this period was driven by strong patient demand for Opzelura orruxolitinib and growth across all indications for Jakafi or ruxolitinib ,” said Herve 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.”