Incyte (INCY) Tops Q3 EPS by 21c; Raises Jakafi Revenue Outlook
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Incyte (NASDAQ: INCY) reported Q3 EPS of $0.20, $0.21 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $269.47 million versus the consensus estimate of $261.43 million.
$224 million of 2016 third-quarter net product revenues from Jakafi® (ruxolitinib), representing 39 percent growth over the same period last year
“Incyte continues to deliver dynamic sales growth from Jakafi in the U.S. and now from Iclusig in Europe. With a potential additional future source of revenue from baricitinib, we are able to make significant investments in opportunities across our broad and diverse clinical portfolio,” stated Hervé Hoppenot, Incyte’s Chief Executive Officer. “Our commercial footprint has expanded to include Europe in addition to the U.S., and as our portfolio matures, we are in an excellent position to build Incyte into a world-class biopharmaceutical organization.”
2016 Financial Guidance
The Company has updated its full year 2016 financial guidance, as detailed below.
Jakafi net product revenues
|$850-$855 million||$825-$835 million|
Iclusig net product revenues
Research and development expenses
|$570-$580 million||$620-$630 million|
Selling, general and administrative expenses
Change in fair value of acquisition-related contingent consideration
For earnings history and earnings-related data on Incyte (INCY) click here.
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