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Incyte misses quarterly profit on weak sales of lead drug [Reuters]

Incyte Corporation (INCY)  More Company Research Source: Reuters
Last incyte corporation earnings: 2/13 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: incyte.com/ir/investor-overview.aspx
The company is working on strengthening its pipeline to counter competition from newly approved drugs, which could impact sales of Jakafi, the company's biggest-selling drug, as it nears the loss of exclusivity later this decade. During the first quarter, the Delaware-based company gained worldwide exclusive global rights for Monjuvi, approved by the FDA for the treatment of certain kinds of blood cancer, from MorphoSys AG In April, the company also announced it had entered into a definitive agreement to acquire Escient Pharmaceuticals, a clinical-stage company involved in the development of treatment of various skin diseases. Sales of Jakafi were down 1% to $571.8 million for the quarter, compared with analysts' expectations of $615.80 million, according to LSEG data. Chief Executive Officer Hervé Hoppenot said, "As anticipated, the revenue growth during the quarter was offset by an inventory drawdown for Jakafi and the typical first-quarter net pricing dynamics." Total re [Read more]
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Stockreport

Incyte misses quarterly profit on weak sales of lead drug [Reuters]

Incyte Corporation  (INCY) 
More Company Research Source: Reuters
Last incyte corporation earnings: 2/13 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: incyte.com/ir/investor-overview.aspx
The company is working on strengthening its pipeline to counter competition from newly approved drugs, which could impact sales of Jakafi, the company's biggest-selling drug, as it nears the loss of exclusivity later this decade. During the first quarter, the Delaware-based company gained worldwide exclusive global rights for Monjuvi, approved by the FDA for the treatment of certain kinds of blood cancer, from MorphoSys AG In April, the company also announced it had entered into a definitive agreement to acquire Escient Pharmaceuticals, a clinical-stage company involved in the development of treatment of various skin diseases. Sales of Jakafi were down 1% to $571.8 million for the quarter, compared with analysts' expectations of $615.80 million, according to LSEG data. Chief Executive Officer Hervé Hoppenot said, "As anticipated, the revenue growth during the quarter was offset by an inventory drawdown for Jakafi and the typical first-quarter net pricing dynamics." Total re [Read more]
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