Incyte slides as GSK's bone marrow cancer therapy gets FDA nod

Filana Therapeutics

18/09/2023 15:45

** Shares of drugmaker Incyte Corp  INCY.O  fall 5.3% to
$59.25 as approval of GSK's treatment threatens INCY's
biggest-selling drug Jakafi
    ** The U.S. FDA on Friday approved GSK's  GSK.L  oral
therapy, Ojjaara, to treat anemia in patients with a type of
bone marrow cancer called myelofibrosis
    ** With roughly a third of myelofibrosis patients having
anemia, the lower transfusion burden observed with Ojjaara in
clinical studies provides another option for physicians,
pressuring INCY's Jakafi dominance in the indication - William
Blair
    ** With anemia being a side effect of Jakafi, GSK's drug
could represent meaningful competition - Leerink Partners
    ** Myelofibrosis, a rare type of blood cancer, causes
extensive scarring in the bone marrow, making it more difficult
to produce blood cells
    ** INCY stock down ~26% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))