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Incyte Corporation

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Incyte’s lead drug Jakafi continues to maintain momentum for the company as the underlying patient demand for the drug remains strong. Incyte’s sNDA, seeking a label expansion of Jakafi for the treatment of steroid-refractory acute GVHD, has been accepted for Priority Review by the FDA.  The agency has set a target action date of Feb 24, 2019. An approval will further boost sales. The recent FDA approval of Olumiant 2 mg, for which Incyte received a milestone payment from Lilly, is a positive. However, Incyte suffered a setback with failure of the phase III ECHO-301 study, evaluating epacadostat in combination with Keytruda. Further, the approval of the 4mg dose of baricitinib is doubtful. Moreover, Incyte’s dependence on only Jakafi is a concern as well. Shares have underperformed the industry in the year so far.

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