Incyte’s (INCY) oncology drug Jakafi (ruxolitinib) is approved for the treatment of myelofibrosis and polycythemia vera, which are rare types of blood cancer. The chart below details the revenue trend for Jakafi since 1Q16.
Jakafi and its importance
Incyte sells Jakafi in the US markets, while Novartis (NVS) holds the development and commercialization rights for Jakafi for outside the US markets. Novartis markets the drug Jakafi under the brand name Jakavi outside the US markets.
Jakafi is the first drug approved by the FDA from Incyte’s portfolio and is also the first oral JAK inhibitor approved by the FDA. Incyte holds the patent rights for the composition of matter and for the use of the drug Jakafi until November 2026. Incyte also received the extension on these patents through late 2027.
Jakafi reported 4Q17 revenues of $302.3 million, compared to $237.5 million for 4Q16, driven by strong sales of the drug in the US markets. For fiscal 2017, Jakafi reported revenues of $1.1 billion during 2017, compared to $852.0 million during 2016.
Incyte reported royalty revenues of $48.0 million from Novartis for Jakavi sales in 4Q17. For fiscal 2017, Incyte reported royalty revenues of $152.0 million from Novartis for Jakavi sales.