2025 Financial Guidance
Incyte's guidance for the fiscal year 2025 is summarized below. Incyte is raising its revenue guidance for Jakafi to account for higher demand in the first half of 2025. Incyte is also raising its revenue guidance for other oncology products, to reflect the strength of the Niktimvo launch, higher demand for Zynyz in the first half of the year and the positive impact of foreign currency exchange rates. Incyte is updating its cost of product revenues guidance to reflect the reduction in the Jakafi royalty rate payable to Novartis, as a result of the contract dispute settlement. Furthermore, Incyte is updating its expense guidance for research and development to reflect the increase due to upfront and ongoing expenses related to new collaborations with Genesis and Biotheryx.
| Current | Previous | |
| Jakafi net product revenues | $3,000 - $3,050 million | $2,950 - $3,000 million |
| Opzelura net product revenues | Unchanged | $630 - $670 million |
| Other oncology net product revenues(1) | $500 - $520 million | $415 - $455 million |
| GAAP Cost of product revenues | 8.0% - 9.0% of net product revenues | 8.5% - 9.0% of net product revenues |
| Non-GAAP Cost of product revenues(2) | 7.0% - 8.0% of net product revenues | 7.5% - 8.0% of net product revenues |
| GAAP Research and development expenses | $1,965 - $1,995 million | $1,930 - $1,960 million |
| Non-GAAP Research and development expenses(3) | $1,815 - $1,840 million | $1,780 - $1,805 million |
| GAAP Selling, general and administrative expenses | Unchanged | $1,280 - $1,310 million |
| Non-GAAP Selling, general and administrative expenses(3) | Unchanged | $1,160 - $1,185 million |