Incyte Raises FY25 Jakafi Revenue Guidance to $3B-$3.05B, Updates Cost of Product Revenues and R&D Expenses

Incyte raised its FY25 Jakafi revenue guidance to $3B-$3.05B from $2.95B-$3B, driven by higher demand in the first half of 2025. The company also raised guidance for other oncology products due to the strength of the Niktimvo launch and positive foreign currency exchange rates. Additionally, Incyte updated its cost of product revenues guidance to reflect the reduction in the Jakafi royalty rate payable to Novartis.

Incyte Corporation (INCY) has raised its fiscal year 2025 (FY25) revenue guidance for Jakafi, its leading treatment for myelofibrosis and polycythemia vera, to $3 billion to $3.05 billion, up from $2.95 billion to $3 billion. This upward revision is driven by robust demand in the first half of 2025, with Jakafi net product revenue reaching $764 million, an 8% increase year-over-year [1].

The company also raised its guidance for other oncology products to $500 million to $520 million, reflecting the strength of the Niktimvo launch and positive foreign currency exchange rates. Additionally, Incyte updated its cost of product revenues guidance to reflect a reduction in the Jakafi royalty rate payable to Novartis, resulting from a recently settled $280 million licensing dispute [1].

The updated guidance underscores Incyte's strong commercial performance and the potential for future growth. The company is navigating a leadership transition, with newly appointed CEO William Meury signaling a disciplined, acceleration-oriented strategy focused on pipeline execution and capital allocation [2].

References:
[1] https://finimize.com/content/incytes-blood-cancer-drug-sales-forecast-gets-a-lift
[2] https://seekingalpha.com/news/4473645-incyte-raises-2025-revenue-guidance-for-jakafi-to-3_05b-as-niktimvo-and-opzelura-drive-robust