Incyte Corp reported higher second-quarter earnings and raised its annual revenue forecast after it settled a lawsuit with the U.S. government over Medicaid rebates tied to eczema cream Opzelura.
Settlement Details
The U.S. drugmaker raised its 2026 revenue forecast to between $5.13 billion and $5.26 billion, from its previous forecast of $4.77 billion to $4.94 billion. The agreement will add an estimated $300 million to $310 million to Opzelura’s net sales for the full-year 2026.
CMS agreed not to classify Opzelura as a line extension of Incyte’s older drug Jakafi, while the company agreed to withdraw its lawsuit challenging the regulations. Total net sales for the second quarter increased 40% to $1.49 billion, driven by a one-time, non-cash benefit of $246 million related to the CMS litigation settlement.
Incyte also said it has discontinued further development of the INCB160058 drug for blood cancer and will prioritize its next-generation therapies. Second-quarter Jakafi sales rose to $816.7 million, while Opzelura net sales came at $449.7 million.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
