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Incyte is a global biopharmaceutical company headquartered in Wilmington, Delaware, with additional offices in Europe, Japan, and Canada . The company is dedicated to the discovery, development, and commercialization of proprietary therapeutics, primarily focusing on two therapeutic areas: Hematology/Oncology and Inflammation and Autoimmunity (IAI) . Incyte's product portfolio includes several approved therapeutics, with JAKAFI being a significant contributor to its revenue .
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Hematology/Oncology - Focuses on developing and commercializing treatments for blood disorders and cancers. This segment includes six approved products:
- JAKAFI (ruxolitinib) - A leading product marketed as JAKAVI outside the United States, contributing significantly to the company's revenue.
- MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) - Approved for use in specific cancer treatments.
- PEMAZYRE (pemigatinib) - Targets specific genetic mutations in cancer patients.
- ICLUSIG (ponatinib) - Used in the treatment of certain types of leukemia.
- ZYNYZ (retifanlimab-dlwr) - An immunotherapy product for cancer treatment.
- NIKTIMVO (axatilimab-csfr) - Approved for treating specific hematological conditions.
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Inflammation and Autoimmunity (IAI) - Develops treatments for inflammatory and autoimmune diseases, including a Dermatology commercial franchise. This segment includes:
- Opzelura - A key product showing significant growth, used in dermatological applications.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Hervé Hoppenot ExecutiveBoard | Chairman, President, and CEO | None | Joined Incyte in January 2014 as President and CEO; became Chairman in May 2015. Previously held senior roles at Novartis Oncology and Aventis. Holds a diploma from ESSEC International Business School. | View Report → |
Christiana Stamoulis Executive | EVP and CFO | None | Joined Incyte in February 2019. Previously CFO at Unum Therapeutics and held senior roles at Vertex Pharmaceuticals and Goldman Sachs. Holds two B.S. degrees and an M.B.A. from MIT. | |
Lee Heeson Executive | EVP, Incyte International | None | Joined Incyte in October 2024. Previously EVP, Commercial International at Seagen and held senior roles at Celgene and Vifor Pharma. | |
Matteo Trotta Executive | EVP and General Manager, Dermatology US | None | Joined Incyte in March 2024. Previously Head of Novartis U.S. Immunology and held leadership roles at McKinsey & Company. Holds an M.B.A. from Columbia Business School. | |
Michael Morrissey Executive | EVP, Head of Global Technical Operations | None | Joined Incyte in January 2016. Previously Corporate VP at Celgene and held roles at Roche. Holds a B.Sc. in Physics and Applied Mathematics from the University of London. | |
Mohamed Issa Executive | EVP, Head of US Oncology | None | Joined Incyte in January 2025. Previously SVP, US Immunology at Janssen Pharmaceuticals and held leadership roles at Johnson & Johnson. | |
Pablo J. Cagnoni Executive | President and Head of R&D | None | Joined Incyte in June 2023. Previously CEO of Rubius Therapeutics and Tizona Therapeutics, and held senior roles at Novartis Oncology and Onyx Pharmaceuticals. Holds an M.D. from the University of Buenos Aires. | |
Paula J. Swain Executive | EVP, Human Resources | None | Joined Incyte in January 2002. Previously SVP of HR at Bristol-Myers Squibb and DuPont Pharmaceuticals. Holds a B.A. in Psychology and Industrial Relations from Rockhurst University. | |
Sheila Denton Executive | EVP, General Counsel, and Corporate Secretary | None | Joined Incyte in October 2023. Previously held senior legal roles at Boehringer Ingelheim and was a partner at a New England-based law firm. Holds a J.D. from Western New England College. | |
Thomas Tray Executive | VP and Chief Accounting Officer | None | Serves as VP and Chief Accounting Officer. No additional details about his tenure or achievements are provided in the documents. | |
Vijay Iyengar Executive | EVP, Global Strategy and Corporate Development | None | Joined Incyte in May 2016. Previously held senior roles at Novartis, including President of Genoptix Corporation. | |
Edmund P. Harrigan Board | Independent Director | Board Member at ACADIA and PhaseBio | Joined Incyte's board in 2019. Former SVP at Pfizer with expertise in regulatory affairs and business development. | |
Jacqualyn A. Fouse Board | Independent Director | Chair of Agios Pharmaceuticals | Joined Incyte's board in 2017. Former CEO of Agios Pharmaceuticals and held leadership roles at Celgene and Bunge. Holds a Ph.D. in Economics. | |
Jean-Jacques Bienaimé Board | Independent Director | Board Member at BioMarin and Immunome; Director at Biotechnology Innovation Organization | Joined Incyte's board in 2015. Former CEO of BioMarin and held leadership roles at Genzyme and SangStat. Holds an M.B.A. from Wharton. | |
Julian C. Baker Board | Lead Independent Director | Managing Member of Baker Bros. Advisors; Board Member at ACADIA, Madrigal, and Prelude Therapeutics | Co-founder of Baker Bros. Advisors. Has served as a director at Incyte since 2001. Extensive experience in biotechnology investing. | |
Katherine A. High Board | Independent Director | Board Member at CRISPR Therapeutics; Visiting Professor at Rockefeller University | Joined Incyte's board in 2020. Former President of Spark Therapeutics and leader in gene therapy development. | |
Otis W. Brawley Board | Independent Director | Board Member at Agilent, Lyell Immunopharma, and PDS Biotechnology | Joined Incyte's board in 2021. Bloomberg Distinguished Professor at Johns Hopkins. Former Chief Medical Officer of the American Cancer Society. | |
Paul J. Clancy Board | Independent Director | Board Member at Exact Sciences and Xilio Therapeutics | Joined Incyte's board in 2015. Former CFO at Alexion and Biogen. Extensive financial leadership experience in biopharma. | |
Susanne Schaffert Board | Independent Director | Board Member at Galapagos NV; Nominated for Merck KGaA Supervisory Board | Joined Incyte's board in 2022. Former President of Novartis Oncology with expertise in oncology and immuno-oncology. |
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With the discontinuation of multiple programs such as your oral PD-L1, LAG-3 monoclonal antibody, TIM-3 monoclonal antibody, and LAG-3 by PD-1 bispecific programs, can you elaborate on the specific data-driven factors that led to these decisions and how they impact your strategic position in oncology?
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Given the recent substantial share repurchase, can you explain how this affects your capacity for future business development and why you prioritized buybacks over potential acquisitions to bolster your pipeline?
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How confident are you that your current pipeline, including the assets acquired from Escient Pharmaceuticals, will adequately offset the eventual loss of exclusivity for Jakafi and sustain long-term growth beyond 2027?
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Regarding tafasitamab, what are your latest considerations for developing it in autoimmune diseases, and what factors are influencing your decision-making process in this potential expansion?
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As you prepare to present data on your CDK2 inhibitor at ESMO, what key benchmarks or data points should investors look for to assess its competitiveness in ovarian cancer and its potential applicability in other more competitive indications like breast cancer?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Customer A | Major specialty pharmacy or wholesaler | All | Contributed 15% of total net product revenues in 2024 , 17% in 2023 , and 19% in 2022. Part of the combined 52% of total accounts receivable in 2024. |
Customer B | Major specialty pharmacy or wholesaler | All | Contributed 10% of total net product revenues in 2024 , 10% in 2023 , and 11% in 2022. Part of the combined 52% of total accounts receivable in 2024. |
Customer C | Major specialty pharmacy or wholesaler | All | Contributed 19% of total net product revenues in 2024 , 18% in 2023 , and 18% in 2022. Part of the combined 52% of total accounts receivable in 2024. |
Customer D | Major specialty pharmacy or wholesaler | All | Contributed 8% of total net product revenues in 2024 , 10% in 2023 , and 10% in 2022. Part of the combined 52% of total accounts receivable in 2024. |
Customer E | Major specialty pharmacy or wholesaler | All | Contributed 13% of total net product revenues in 2024 , 8% in 2023 , and 14% in 2022. Part of the combined 52% of total accounts receivable in 2024. |
Customer F | Major specialty pharmacy or wholesaler | All | Contributed 10% of total net product revenues in 2024 , 10% in 2023 , and 1% in 2022. Part of the combined 52% of total accounts receivable in 2024. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Escient Pharmaceuticals, Inc. | 2024 | Incyte acquired Escient Pharmaceuticals for a total cash consideration of $782.5 million (plus $2.5 million in transaction costs and a $31.5 million compensation expense), with the deal structured as an asset acquisition under U.S. GAAP due to the high value of its lead molecule EP262 and accompanying asset EP547. This acquisition is strategically aimed to enhance Incyte’s inflammation and autoimmune portfolio while meeting regulatory conditions. |
MorphoSys AG's Global Rights to Tafasitamab | 2024 | Incyte secured exclusive global development and commercialization rights to tafasitamab (including MONJUVI inventory) through a $25.0 million payment, terminating a prior collaboration; the asset acquisition was structured with future contingent milestones and royalty obligations under the Xencor collaboration, aligning with its global commercialization strategy. |
Villaris Therapeutics, Inc. | 2022 | Incyte’s acquisition of Villaris Therapeutics involved an upfront payment of $70 million with additional development and commercial milestone payments (up to $310 million and $1.05 billion, respectively) for its lead asset auremolimab (VM6), a novel anti-IL-15Rβ antibody designed to treat vitiligo. This deal strategically expands Incyte’s dermatology pipeline and autoimmune/inflammatory disease portfolio, subject to U.S. antitrust clearance. |
Recent press releases and 8-K filings for INCY.
- In Q1 2025, Incyte delivered robust performance with total revenues of $1.5 billion and net product revenues of $922M (+26% Y/Y) .
- Key product highlights include Jakafi at $709M ( ), Opzelura at $119M (+38% Y/Y), and a strong U.S. debut for Niktimvo generating $14M in its first two months ( ).
- The company raised full-year guidance for Jakafi revenue to $2.95–3.0 billion .
- Total revenues also showed a +20% Y/Y increase, underscoring the growth of its portfolio .
- Looking ahead, Incyte outlined a dynamic pipeline with multiple product launches planned for 2025 and a Povo launch expected in 2027, reflecting ongoing clinical and commercial momentum .
- Phase 3 efficacy confirmed: Incyte’s STOP-HS1 and STOP-HS2 studies met the primary endpoint for povorcitinib in moderate to severe hidradenitis suppurativa at both the 45 mg and 75 mg doses.
- Favorable safety profile: The trials showed a clean and well‐tolerated safety profile with no new safety signals observed across the study arms.
- Upcoming regulatory milestones: Incyte plans to file a New Drug Application for povorcitinib in late 2025 to early 2026, with additional long-term safety and efficacy data anticipated.
- Incyte emphasized its commitment to innovation and expansion, reporting 15% revenue growth in 2024 with revenue reaching $4.2 billion, underscoring investments in both commercial expansion and R&D.
- The company’s flagship drug Jakafi continues to perform strongly across key indications including MF, PV, and GVHD, with ongoing efforts to extend its market exclusivity via an XR formulation.
- Opzelura is gaining traction, particularly in atopic dermatitis and vitiligo markets, offering rapid itch relief and showing promising adoption in both the U.S. and European markets.
- The pipeline includes promising assets such as povorcitinib for HS with impending Phase III readouts and a CDK2 inhibitor in ovarian cancer, indicating a robust strategy for future growth.