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Mar 31, 2025
Incyte Q1 2025 Earnings Report
Incyte reported strong Q1 2025 results driven by double-digit revenue growth from core products Jakafi and Opzelura, alongside the successful launch of Niktimvo.
Key Takeaways
Incyte delivered a robust quarter with $1.05B in total revenue, driven by strong performances from Jakafi and Opzelura. The company also benefited from the U.S. launch of Niktimvo and posted a solid net income of $158M.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Incyte raised full-year Jakafi revenue guidance and reaffirmed projections for Opzelura and other oncology products. Continued investment in development programs and marketing is expected.
Positive Outlook
- Raised full-year Jakafi revenue guidance to $2.95–$3.00 billion
- Maintained full-year guidance for Opzelura at $630–$670 million
- Strong U.S. and ex-U.S. growth for Opzelura
- Product launches (e.g., Niktimvo) contributing to revenue
- Robust cash position of $2.4 billion supports pipeline investment
Challenges Ahead
- Increased cost of product revenues due to higher royalties
- Channel inventory reductions impacted some product revenues
- R&D expenses remained elevated due to late-stage investments
- SG&A expenses rose from increased marketing
Historical Earnings Impact
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Avg. Return Before/After Earnings
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