Jakafi’s position is solid for now, but Incyte needs oncology pipeline progress to establish a moat.
Following strong second-quarter uptake in Jakafi sales, Incyte adjusted its full-year guidance to reflect a more optimistic outlook. Jakafi revenues are now expected to reach $825 million-$835 million, which places our 2016 estimate slightly below the lower end of guidance. Research and development costs are also now anticipated to be marginally lower than our original forecast. Updates to our near-term model assumptions do not have a material impact on our $87 fair value estimate for Incyte, wh...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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