Incyte reported second-quarter 2026 non-GAAP earnings of $3.09 per share, beating analyst estimates by $0.94, while revenue of $1.67 billion exceeded expectations by $180 million. Total revenue rose 38% year-over-year, driven by a 40% increase in total net sales to $1.49 billion. Jakafi and Jakafi XR net sales grew 7% to $817 million, and Opzelura net sales reached $450 million, though excluding a one-time non-cash benefit from a CMS settlement, Opzelura net sales were $204 million, up 24%. The company raised its full-year 2026 total net sales guidance to a range of $5.13 billion to $5.26 billion, reflecting the CMS agreement and strong performance of its Hematology and Oncology portfolio, which saw net sales of $222 million, a 69% increase. Incyte also increased its operating expense guidance, partly due to the acquisition of Vega Therapeutics, which will result in an IPR&D expense of approximately $1.27 billion in the third quarter.
Incyte CorporationIncyte beat Q2 estimates and raised full-year guidance, driven by strong sales growth.