Incyte's Jakafi Patent Expiry In 2028 Poses Challenge, Analyst Says New Treatments To Battle For Market Share
Portfolio Pulse from Vandana Singh
Incyte Corporation's Q2 adjusted EPS reached $0.99, beating analysts' estimate of $0.87. Q2 revenues increased by 25% Y/Y to $954.61 million, surpassing the consensus of $920.18 million. Jakafi product revenues grew 14% Y/Y to $682 million. Opzelura's revenues of $80 million grew 384% Y/Y. Analyst Matt Phipps maintains an Outperform rating for Incyte, but notes the company's heavy reliance on Jakafi sales/royalties and its patent expiration in mid-2028 as ongoing issues.
August 04, 2023 | 10:29 am
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Incyte's Q2 earnings beat estimates, driven by strong sales of Jakafi and Opzelura. However, the company's reliance on Jakafi and its upcoming patent expiration could pose challenges.
Incyte's Q2 earnings beat estimates, which is positive for the stock. However, the company's heavy reliance on Jakafi and its upcoming patent expiration could pose challenges, potentially affecting the stock negatively in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100