Incyte Corporation Q3 2025 Earnings Recap

Incyte reported a strong Q3 2025, with total revenues of $1.37 billion and product sales of $1.15 billion, reflecting year-over-year growth of 20% and 19%, respectively, driven by robust demand for Jakafi and Opzelura.

Key Takeaways

• Jakafi sales reached $791 million, a 7% increase, with broad-based growth across all indications and market share leadership maintained in MF.
• Opzelura achieved $188 million in sales, up 35% year-over-year, bolstered by strong prescription demand and improved formulary access.
• Niktimvo exceeded launch expectations with $46 million in Q3 sales, capturing 13% of the third-line GVHD opportunity shortly after launch.
• Incyte raised its full-year guidance for Jakafi to $3.05 billion to $3.075 billion based on current momentum.
• Upcoming product launches in 2026 are positioned to enhance growth prospects, including ruxolitinib XR and additional indications for Opzelura.