Incyte(US:INCY)2022-08-02 13:50Financial Performance - Total revenues increased by 29% year-over-year, reaching $911 million in Q2 2022, compared to $706 million in Q2 2021[5, 6] - Net product revenues grew by 15% year-over-year, amounting to $664 million in Q2 2022, up from $575 million in Q2 2021[5, 46] - Jakafi net sales reached $598 million in Q2 2022, a 13% increase year-over-year[6, 19] - Milestone and contract revenue saw a significant increase, reaching $130 million in Q2 2022, compared to $10 million in Q2 2021, representing a 1,200% growth[6, 46] - For the first half of 2022, total revenues were $1645 million, a 26% increase compared to $1310 million in the first half of 2021[46] Product Updates and Approvals - Opzelura, a new product, contributed $17 million in revenue in Q2 2022[6] - Multiple approvals for Jakavi, Olumiant and Tabrecta in Q2, including approval as the first post-steroid systemic treatment for acute and chronic graft-versus-host disease (GVHD) in Europe and as the first and only systemic treatment for alopecia areata in the U S, Europe and Japan[9] - Opzelura approved with broad label in nonsegmental vitiligo for 12 years of age and older, apply to affected areas of up to 10% BSA, approved for continuous use anywhere on body, no limits on duration of use[8, 15] Pipeline and Clinical Development - The company is progressing with its pipeline, with Povorcitinib (INCB54707) Phase 3 in HS in preparation and CK08041 + ruxolitinib IND clearance to initiate P1b in MF[11] - Ruxolitinib cream maintenance study ongoing; ruxolitinib cream + phototherapy study ongoing[22] Opzelura Market Performance - Covered claims for Opzelura reached 54% by the end of Q2 2022[13] - High satisfaction with Opzelura expected to drive uptake, HCPs that are highly satisfied with Opzelura has increased from 46% to 67%[12] - Proportion of treated patients considered candidates for Opzelura has increased from 37% to 47%[12]