Incyte beats first-quarter estimates on strong demand for cancer drugs

Zimmer Biomet Holdings

28/04/2026 15:00

April 28 (Reuters) - Drugmaker Incyte INCY.O beat analysts' estimates for first-quarter profit and revenue on Tuesday, partly helped by strong demand for its cancer treatments, including Jakafi and Minjuvi.

The company reaffirmed its full-year forecast across all categories, a move analysts said could signal conservatism and point to slower growth in some key products.

The company posted an adjusted profit of $1.81 per share, above analysts' average estimate of $1.37 per share, according to data compiled by LSEG.

Total quarterly revenue came in at $1.27 billion, also above expectations of $1.21 billion.

Jakafi net sales rose 7% to $757.8 million, helped by stronger demand across all approved indications, topping estimates.

Net sales of Opzelura, Incyte's treatment for eczema and vitiligo, rose 20% to $143 million, but fell short of analysts' estimate of $161.9 million.

Incyte reaffirmed its full-year sales forecast of $4.77 billion to $4.94 billion.

RBC Capital Markets analysts said they expect a flat stock reaction, citing slower Opzelura growth, the approaching Jakafi patent cliff and ongoing questions around pipeline competitiveness.

Incyte also named Suketu Upadhyay as chief financial officer, effective May 4. He most recently was the executive vice president and CFO of Zimmer Biomet ZBH.N and previously held a senior finance role at Bristol-Myers Squibb BMY.N.

 (Reporting by Kunal Das; Editing by Shilpi Majumdar)

 ((Kunal.Das2@thomsonreuters.com;))