Despite Incyte's Temporary Jakafi Sales Slump in 3Q, Shares Remain Attractive With FVE $97
Narrow-moat Incyte reported middling Jakafi sales in the third quarter due to a temporary inventory issue, which had an $8 million impact. The resulting $348 million of Jakafi sales, while nearly flat from last quarter's $346 million, represents a 14% increase from last year. Management expressed confidence that the faster-than-expected destocking toward the end of the quarter wouldn't have an impact on the year and lifted the lower end of full-year Jakafi revenue guidance.The uptake in patien...
Incyte is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. JAKAFI (ruxolitinib) has been approved for the treatment of patients with intermediate or high-risk myelofibrosis, for the treatment of patients with polycythemia vera, and for the treatment of steroid-refractory acute graft-versus-host disease in adult and pediatric patients 12 years and older. The company has also obtained a license to develop and commercialize ICLUSIG (ponatinib) in Europe and other select countries. In the European Union, ICLUSIG is approved for the treatment of adult patients with chronic phase, accelerated phase or blast phase chronic myeloid leukemia.
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