Incyte is the biopharma name behind myelofibrosis drug Jakafi, lymphoma treatment Monjuvi, and leukemia drug Iclusig. None of them are showstoppers like Merck’s Keytruda or AbbVie’s Humira.
But for a relatively small ($20 billion) outfit like Incyte, these lesser-known drugs still make a big impact. The company’s going to report sales of around $2 billion for Jakafi when it releases its fourth-quarter results a few days from now. And, while its rheumatoid arthritis therapy Olumiant is still a small-time franchise, its third-quarter year-over-year sales growth of 32% makes it an encouraging prospect. The company’s overall year-to-date sales growth of 19% also makes it clear Incyte isn’t going to be stymied by the pandemic.
We strongly believe that the company’s product portfolio and its sales capacity are underestimated by the market, given this we see a sound share-price appreciation over the next 18 to 24 months.