Incyte发布2026年二季报并上调全年销售与费用指引

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Total revenue of
$1.67 billion
and total net sales of
$1.49 billion
in the second quarter of 2026, an increase of 38% and 40%, respectively, compared to the second quarter of 2025
Total net sales, excluding the one-time, non-cash benefit for Opzelura
®
(ruxolitinib) cream related to the CMS settlement,
*
grew 17% compared to the prior year period
Jakafi
®
/Jakafi XR
™
(ruxolitinib) net sales of
$817 million
, an increase of 7% compared to the same period in 2025
Opzelura net sales of
$450 million
, an increase of 173% versus the prior year period; excluding the one-time, non-cash benefit,
*
Opzelura net sales were
$204 million
, an increase of 24% versus the prior year period
Hematology and Oncology portfolio net sales of
$222 million
, an increase of 69%, compared to the second quarter of 2025
Updating 2026 full year financial guidance for total net sales and operating expenses
Ten clinical data readouts, including data from four registrational trials, expected throughout the second half of 2026
Conference Call and Webcast Scheduled Today at
8:00 a.m. ET
WILMINGTON, Del.
--(BUSINESS WIRE)--Jul. 28, 2026--
Incyte
(Nasdaq:INCY) today reported financial results for the second quarter of 2026 and provided a business update.
“Our second quarter was marked by broad-based sales growth, continued pipeline progress and strategic business development,” said
Bill Meury
, Chief Executive Officer,
Incyte
. “Every marketed product contributed to growth, reflecting the strength of our commercial portfolio and execution. We also recently strengthened our Hematology franchise through the acquisition of latarcibart, a potentially transformative medicine for von Willebrand disease currently in Phase 3 development. With ten data readouts expected in the second half of 2026, alongside product launches through early next year, we are well positioned for our next phase of growth.”
Second Quarter 2026 Results
Total revenue:
Total revenue was
$1.67 billion
, an increase of 38% compared to the second quarter of 2025,
*
primarily driven by an increase in total net sales across marketed products.
Total net sales:
Total net sales were
$1.49 billion
, an increase of 40% compared to the second quarter of 2025.
*
The increase was driven by a one-time, non-cash benefit of
$246 million
associated with the reversal of previously established accrual balances through
March 31, 2026
, for Opzelura
®
(ruxolitinib) cream, and increased demand across marketed products, including continued demand for Jakafi
®
(ruxolitinib) across all indications, Opzelura in atopic dermatitis (AD) and vitiligo, Niktimvo
™
(axatilimab-csfr) in chronic graft versus host disease (GVHD), Monjuvi
®
(tafasitamab-cxix)/Minjuvi
®
(tafasitamab) in follicular lymphoma (FL) and Zynyz
®
(retifanlimab-dlwr) in squamous cell carcinoma of the anal canal (SCAC).
Cost of sales:
GAAP and non-GAAP cost of sales were
$105.0 million
and
$98.6 million
, respectively, representing 7% of total net sales.
Research and development (R&D) expenses:
GAAP and non-GAAP R&D expenses were
$517.0 million
and
$478.8 million
, an increase of 4% and 5%, respectively, compared to the prior year period.
Selling, general and administrative (SG&A) expenses:
GAAP and non-GAAP SG&A expenses
were
$351.7 million
and
$323.6 million
, an increase of 6% for each, respectively, compared to the prior year period.
Cash, cash equivalents and marketable securities position:
As of
June 30, 2026
and
December 31, 2025
, cash, cash equivalents and marketable securities totaled
$4.5 billion
and
$3.6 billion
, respectively.
Opzelura Financial Impact Related to Agreement with CMS
As a result of the agreement with CMS,
*
the total estimated incremental impact on Opzelura net sales for the full year 2026 is
$300
-
$310 million
which includes the reversal of previously established accrual balances through the first quarter of 2026 and effects of an improved gross-to-net (GTN) profile on a go-forward basis as summarized in the table below.
Opzelura Net Sales
1
Total estimated incremental impact on Opzelura net sales for the full year 2026
$300
-
$310 million
One-time, non-cash benefit of the reversal of previously established accrued balances through the first quarter of 2026 ending
March 31, 2026
$246 million
Impact on second quarter of 2026 net sales resulting in improved GTN
$15 million
Estimated impact on third and fourth quarters of 2026 net sales from improved GTN
$40
-
$50 million
1
Totals may not add due to rounding.
2026 Financial Guidance
Incyte
is raising its full year 2026 total net sales guidance to
$5,130
-
$5,260 million
, reflecting the impact of the agreement with CMS related to the Opzelura line extension,
*
as well as the continued strong performance of its Hematology and Oncology growth products, including Niktimvo, Monjuvi/Minjuvi and Zynyz.
Incyte
is raising its full year 2026 Opzelura net sales guidance to
$1,050
-
$1,100 million
and full year 2026 Hematology and Oncology net sales guidance to
$860
-
$890 million
.
Incyte
is also raising its full year 2026 operating expense guidance. Total GAAP R&D and SG&A operating expense guidance is
$4,915
-
$4,995 million
and total non-GAAP R&D and SG&A operating expense guidance is
$4,625
-
$4,695 million
. The revised guidance reflects the impact of the acquisition of Vega Therapeutics, including an IPR&D expense of approximately
$1,270 million
expected in the third quarter 2026 associated with the upfront payment and related transaction costs, as well as
$50 million
of incremental ongoing R&D investments related to the development of latarcibart. The transaction upfront payment is expected to result in an IPR&D expense reflected in the third quarter and full year 2026 GAAP and non-GAAP financial results.
Incyte’s guidance for the fiscal year 2026 is summarized below.
Current
Previous
Total net sales
$5,130
-
$5,260 million
$4,770
-
$4,940 million
Jakafi net sales
(1)
unchanged
$3,220
-
$3,270 million
Opzelura net sales
(2)
$1,050
-
$1,100 million
$750
-
$790 million
Hematology and Oncology net sales
(3)
$860
-
$890 million
$800
-
$880 million
Total GAAP R&D and SG&A operating expenses
(4)
$4,915
-
$4,995 million
$3,495
-
$3,675 million
Total Non-GAAP R&D and SG&A operating expenses
(4,5)
$4,625
-
$4,695 million
$3,205
-
$3,375 million
1
Includes Jakafi XR
™
(ruxolitinib) net sales.
2
Includes net sales for moderate atopic dermatitis in
Europe
, which is anticipated to be approved in the second half of 2026.
3
Includes
Pemazyre
®
(pemigatinib)
in the
U.S
.,
Canada
,
Europe
,
Japan
,
Asia Pacific
(APAC),
Middle East
and
Africa
(MEA), and
Latin America
(LatAm); Niktimvo and Monjuvi in the
U.S
.; Zynyz in the
U.S
.,
Europe
and
Japan
; Iclusig
®
(ponatinib) in
Europe
and MEA; and Minjuvi in
Canada
,
Europe
,
Japan
, APAC, MEA and LatAm.
4
Includes upfront cost related to the acquisition of Vega Therapeutics, which will be recognized as an IPR&D expense impacting both the third quarter and full-year 2026 in addition to incremental R&D investment related to latarcibart.
5
Adjusted to exclude the estimated cost of stock-based compensation.
Key Business Updates
Hematology
Jakafi XR
™
(ruxolitinib)
In May, Jakafi XR was approved by the
FDA
for the treatment of adults with intermediate- or high-risk myelofibrosis (MF) and adults with polycythemia vera (PV) who have had an inadequate response to or are intolerant to hydroxyurea, as well as for adults and children aged 12 years and older with steroid-refractory acute GVHD or chronic GVHD after failure of one or two lines of systemic therapy.
Monjuvi/Minjuvi
Data from the pivotal Phase 3 frontMIND trial evaluating tafasitamab and lenalidomide in addition to R-CHOP (rituximab, cyclophosphamide, doxorubicin, vincristine and prednisone) as a first-line treatment for adults with previously untreated diffuse large B-cell lymphoma (DLBCL) and high-grade B-cell lymphoma (HGBL) were presented as a featured oral presentation at the
2026
American Society of Clinical