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How Incyte’s Jakafi Performed in Q1 2018

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May. 30 2018, Updated 8:01 a.m. ET

Jakafi

Incyte’s (INCY) oncology drug Jakafi (ruxolitinib) is approved for the treatment of myelofibrosis and polycythemia vera, two rare types of blood cancer.

The chart above compares Jakafi’s revenues since Q1 2017.

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Jakafi and its importance

Incyte sells Jakafi in US markets, while Novartis (NVS) holds the development and commercialization rights for Jakafi outside US markets. Novartis markets Jakafi under the brand name Jakavi outside 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 also the use of Jakafi until November 2026. Incyte has also received an extension on these patents up to late 2027.

Jakafi revenue

Jakafi reported a 25% revenue rise to $313.7 million in Q1 2018 compared to $251.1 million in Q1 2017 driven by strong sales of the drug in US markets.

Incyte reported royalty revenue of $41 million from Novartis for the sales of Jakavi in Q1 2018 compared to royalty revenue of $29 million in Q1 2017.

The iShares US Healthcare ETF (IYH) holds 0.3% of its total investments in Incyte, 2.6% in Gilead Sciences (GILD), and 3.1% in Abbott Laboratories (ABT).

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