Quarterly ResultApr 28, 2026, 04:08 PM
INCY Q1 Revenue +20.9% to $1.27B; EPS $1.52; Net Income +91.7%
AI Summary
Incyte Corp reported strong first-quarter 2026 financial results, with total revenues increasing by 20.9% to $1.27 billion and net income surging by 91.7% to $303.3 million. Diluted EPS rose to $1.47. The company also highlighted a favorable settlement with Novartis reducing JAKAFI royalty payments and an exclusive option agreement with Prelude Therapeutics for a JAK2V617F inhibitor program.
Key Highlights
- Total revenues increased 20.9% to $1.27 billion for Q1 2026.
- Net income grew 91.7% to $303.3 million in Q1 2026.
- Diluted EPS was $1.47 for Q1 2026, up from $0.80 in Q1 2025.
- Net cash provided by operating activities rose 38.8% to $369.4 million.
- JAKAFI net sales increased 6.8% to $757.8 million in Q1 2026.
- OPZELURA net sales grew 20.5% to $143.0 million in Q1 2026.
- Novartis settlement reduced JAKAFI US royalty rate by 50% from Jan 1, 2025.
- Secured exclusive option to acquire Prelude's JAK2V617F program for $60M.
Price Impact
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