Incyte Corporation reported second quarter 2026 financial results with total revenue of $1.67 billion and total net sales of $1.49 billion, representing increases of 38% and 40% respectively compared to the prior year period. Net sales growth was significantly impacted by a one-time, non-cash benefit of $246 million from the reversal of accrual balances related to a CMS settlement regarding Opzelura. Excluding this benefit, total net sales grew 17%. Jakafi net sales increased 7% to $817 million, while Opzelura net sales surged 173% to $450 million. The company raised its full-year 2026 total net sales guidance to $5.13–$5.26 billion and operating expense guidance to $4.915–$4.995 billion, reflecting the CMS agreement impact and the acquisition of Vega Therapeutics for $1.25 billion. Incyte operates in the biopharmaceutical industry, developing and commercializing medicines for hematology, oncology, and inflammation.

Incyte Corporation completed its acquisition of Vega Therapeutics, Inc., a subsidiary of Star Therapeutics LLC. The company is a biotechnology company that develops and commercializes commercial-stage and commercial-stage ready products for oncology and inflammation.

Incyte Corporation reached an agreement with the Centers for Medicare & Medicaid Services (CMS) to resolve litigation regarding Medicaid rebate rules for Opzelura (ruxolitinib) cream. The settlement prevents CMS from treating Opzelura as a line extension of Jakafi, resulting in a one-time, non-cash benefit of approximately $246 million in the second quarter ending June 30, 2026. Incyte Corporation is a biotechnology company that develops and commercializes therapeutic products.

Incyte Corporation held its Annual Meeting of Shareholders on June 8, 2026, where shareholders elected eight directors, approved non-binding advisory compensation for named executive officers, and ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026. Incyte Corporation is a biotechnology company that develops and commercializes therapeutic products.

Incyte Corporation announced on June 8, 2026, that it has entered into a definitive agreement to acquire Vega Therapeutics, Inc., a subsidiary of Star Therapeutics, LLC. The filing is a material event regarding a corporate acquisition. corporate acquisition.