Incyte’s revenue trend
Incyte’s (INCY) consolidated revenue increased to $521.51 million in the second quarter compared to $326.44 million in the second quarter of 2017.
In the second quarter, the company reported net income of $52.39 million compared to net income of -$12.48 million in the second quarter of 2017.
The chart above compares Incyte’s quarterly revenues since the first quarter of 2017.
Incyte surpassed Wall Street analysts’ estimates for revenue but missed estimates for its EPS, reporting EPS of $0.27 on revenue of $521.5 million in the second quarter compared to the estimates of EPS of $0.34 on revenue of $473.8 million in the quarter.
Incyte reported GAAP (generally accepted accounting principles) revenue of $521.5 million in the second quarter, a 59.7% rise year-over-year compared to $326.4 million in the second quarter of 2017. The revenue included milestone income of $100 million, excluding which its non-GAAP revenue was $421.5 million in the quarter.
Incyte’s product portfolio includes the drugs Iclusig, Jakafi/Jakavi, and Olumiant.
Jakafi (ruxolitinib) is a drug for the treatment of rare types of blood cancer, such as polycythemia vera and myelofibrosis. Novartis (NVS) holds the commercialization rights for Jakafi outside US markets.
Iclusig (ponatinib) is a drug for the treatment of patients with chronic myeloid leukemia as well as Philadelphia-chromosome positive acute lymphoblastic leukemia in patients who are not responsive to other tyrosine kinase inhibitors.
Olumiant (baricitinib) is a once-daily JAK inhibitor for the treatment of active rheumatoid arthritis. Eli Lilly and Company (LLY) holds the worldwide development and commercialization rights for Olumiant.