Incyte

What Incyte does

Founded in 1991 and headquartered in Wilmington, Delaware, Incyte Corporation is a publicly traded biopharmaceutical company (NASDAQ: INCY) that discovers, develops, and commercializes small-molecule and biologic therapeutics for serious unmet medical needs across three core franchises: Hematology and Oncology, Inflammation and Autoimmunity (including Dermatology), and a growing pipeline of partnered and acquired programs. The company employs approximately 2,400 people and operates commercial or affiliate entities in 19 countries, with field-sales, medical affairs, and patient-support infrastructure spanning the United States, Canada, Japan, and 15 European markets. Its flagship product, Jakafi (ruxolitinib), is a JAK1/JAK2 inhibitor approved for myelofibrosis, polycythemia vera, and steroid-refractory graft-versus-host disease that generated $2.8 billion in 2024 revenue, with Q1 2026 net sales of $758 million.

Incyte's commercial portfolio comprises seven approved products spanning its therapeutic areas: Jakafi and Jakafi XR (JAK inhibitors, oral and once-daily extended-release), Opzelura (topical ruxolitinib cream for atopic dermatitis and non-segmental vitiligo), Monjuvi/Minjuvi (CD19 monoclonal antibody combined with lenalidomide for relapsed/refractory DLBCL and follicular lymphoma), Niktimvo (CSF-1R antibody for chronic GVHD), Pemazyre (FGFR inhibitor for cholangiocarcinoma), and Zynyz (PD-1 inhibitor for metastatic Merkel cell carcinoma). The R&D platform combines proprietary small-molecule and antibody design with AI-augmented discovery partnerships — including Genesis Molecular AI's GEMS foundation model trained on Incyte's experimental data and Edison Scientific's Kosmos AI scientist platform — alongside strategic acquisitions that have added first-in-class candidates such as the mutant-calreticulin antibody INCA033989, the ALK2 inhibitor zilurgisertib (out-licensed to Mirum Pharmaceuticals), and the Protein S-targeting antibody VGA039 acquired through the 2026 Vega Therapeutics purchase for up to $2 billion in total consideration.

Incyte's revenue model is anchored in prescription pharmaceutical sales executed through field-sales representatives who detail oncologists, hematologists, dermatologists, and hospital formularies, supplemented by the IncyteCARES patient-support program for insurance navigation and financial assistance in the United States. International distribution combines wholly-owned affiliates across Europe, Japan, and Canada with regional partners such as Specialised Therapeutics in Australia, New Zealand, and Singapore. In addition to product sales, the company receives royalties from Novartis on ex-U.S. Jakafi net sales and earns milestone and licensing payments from out-licensing arrangements. Incyte generated approximately $5.14 billion in 2024 total revenue (per scale commentary), held $2.2 billion in cash with no debt as of Q4 2024, and is guided to $4.77–$4.94 billion in 2026 net sales; the company also completed a $2 billion share buyback and trades at a market capitalization of approximately $19.6 billion as of June 2026.

Name

Incyte

Legal name

Incyte Corporation

Website

https://incyte.com

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Incyte is a publicly traded biopharmaceutical company that discovers, develops, and commercializes small-molecule and biologic therapies for serious unmet needs in hematology, oncology, and inflammation/autoimmunity, operating commercially in 19 countries with a global specialty distribution and physician field-sales model.

Ownership category

akta.pro rank

Product category

Specialty Biopharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714), Medicinal and Botanical Manufacturing (325411)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Monoclonal Antibody Therapeutics (mAbs) (HLAAAAAA)

akta.pro secondary industries

Bispecific & Multispecific Antibodies (HLAAAAAF), Immunology & Autoimmune Specialty Pharmaceuticals (HLAIACAB)

Keywords

• Specialty pharmaceuticals
• Small molecule drugs
• Oncology therapeutics
• Hematology treatments
• Inflammation autoimmunity

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices19 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Supply Chain

Revenue model

1. Prescription Drug Sales (Jakafi): Jakafi (ruxolitinib) is Incyte's flagship product, a JAK1/JAK2 inhibitor approved for myelofibrosis, polycythemia vera, and steroid-refractory acute/chronic graft-versus-host disease. Jakafi generated $2.8 billion in 2024 revenue with 8% year-over-year growth. Jakafi XR extended-release once-daily formulation received FDA approval in May 2026.
2. Prescription Drug Sales (Opzelura): Opzelura (ruxolitinib cream 1.5%) is approved for atopic dermatitis and non-segmental vitiligo in the U.S., with EU regulatory review ongoing. Opzelura generated $508 million in 2024 (up 50% year-over-year) and $143 million in Q1 2026 (up 20% year-over-year). Phase 2 data in hidradenitis suppurativa has been reported.
3. Hematology and Oncology Portfolio (Monjuvi/Minjuvi, Zynyz, Niktimvo, Pemazyre): Commercialized hematology/oncology products including Monjuvi/Minjuvi (tafasitamab) for DLBCL and follicular lymphoma; Zynyz (retifanlimab) for Merkel cell carcinoma; Niktimvo (axatilimab) for chronic graft-versus-host disease; and Pemazyre (pemigatinib) for cholangiocarcinoma. This portfolio generated $204 million in Q1 2026 (up 116% year-over-year).
4. Milestone Payments and Royalties: Incyte receives royalties from Novartis on Jakafi net sales (with a 50% ongoing reduction following a $242 million contractual benefit recognized). The company also has out-licensing arrangements including zilurgisertib (licensed to Mirum) and earns milestone payments from development and regulatory achievements.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Incyte is a biopharmaceutical company that discovers, develops, manufactures, and commercializes proprietary small-molecule drugs and monoclonal antibodies for patients with cancer and inflammatory/autoimmune diseases. Its commercial portfolio spans hematology, oncology, and dermatology franchises built around the ruxolitinib JAK inhibitor backbone (Jakafi, Opzelura) and complementary biologics (tafasitamab, axatilimab, pemigatinib, retifanlimab).

Product overview

Incyte is a global biopharmaceutical company with three core franchises in Hematology, Oncology, and Inflammation and Autoimmunity. The commercial portfolio includes Jakafi and Jakafi XR (JAK inhibitors for myelofibrosis, polycythemia vera, and graft-versus-host disease), Opzelura (topical JAK inhibitor for atopic dermatitis and vitiligo), Monjuvi/Minjuvi (CD19-targeting antibody for DLBCL and follicular lymphoma), Niktimvo (CSF-1R antibody for chronic GVHD), Pemazyre (FGFR inhibitor for cholangiocarcinoma), and Zynyz (PD-1 inhibitor for Merkel cell carcinoma). The company also maintains AI-powered drug discovery partnerships with Genesis Molecular AI (GEMS platform) and Edison Scientific (Kosmos platform) to accelerate pipeline development across its therapeutic areas.

Differentiator

Problem solved

Functional benefit

Brands

• IncyteCARES: Patient support and assistance program for eligible patients prescribed Incyte medications including Jakafi, Pemazyre, Opzelura, Niktimvo, Monjuvi or Zynyz
• Voices of MPN
• GVHDnow
• Start from Scratch
• This Is Vitiligo
• MPN Connect
• TestMyCholangio

Products and services

• Jakafi (ruxolitinib) An oral JAK1/JAK2 inhibitor for adults and pediatric patients 12+ with intermediate/high-risk myelofibrosis, polycythemia vera (inadequate hydroxyurea response), and steroid-refractory acute or chronic graft-versus-host disease. Incyte's flagship product, generating $2.8 billion in 2024 revenue.
• Jakafi XR (ruxolitinib extended-release tablets) Once-daily extended-release oral ruxolitinib tablets for myelofibrosis, polycythemia vera, and graft-versus-host disease, providing more convenient dosing versus twice-daily Jakafi.
• Opzelura (ruxolitinib cream 1.5%) Topical JAK inhibitor cream for atopic dermatitis and non-segmental vitiligo in adults and pediatric patients. Generated $508 million in 2024 (up 50% YoY) and $143 million in Q1 2026 (up 20% YoY).
• Monjuvi/Minjuvi (tafasitamab-cxix) CD19-targeting monoclonal antibody used in combination with lenalidomide for adults with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) and relapsed or refractory follicular lymphoma.
• Niktimvo (axatilimab-csfr) First-in-class colony stimulating factor-1 receptor (CSF-1R)-blocking antibody for treating chronic graft-versus-host disease after failure of at least two prior lines of systemic therapy.
• Pemazyre (pemigatinib) FGFR inhibitor for adults with previously treated, unresectable locally advanced or metastatic cholangiocarcinoma with FGFR2 fusion or other rearrangement.
• Zynyz (retifanlimab-dlwr) PD-1 inhibitor for treating metastatic or recurrent locally advanced Merkel cell carcinoma in adults.

Quantifiable outcome

• Tafasitamab + lenalidomide + R-CHOP reduced risk of disease progression or death by 25% (HR 0.75) versus R-CHOP alone in first-line high-risk DLBCL; 2-year PFS improved from 62.9% to 71.1% (frontMIND Phase 3 trial)
• +6 more outcomes

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Vega Therapeutics (Star Therapeutics subsidiary)coreStrategic or Co-development Partner · 8 June 2026Incyte acquired Vega Therapeutics, a wholly owned subsidiary of Star Therapeutics, for $1.25 billion upfront plus up to $750 million in sales milestones, totaling up to $2.0 billion. The acquisition adds VGA039, a novel investigational monoclonal antibody targeting Protein S in Phase 3 development for von Willebrand disease, potentially the first subcutaneous prophylactic treatment for all VWD types with once-monthly dosing. VGA039 has received FDA Breakthrough Therapy, Fast Track, Orphan Drug, and Rare Pediatric Disease designations. Expected to close Q3 2026 pending Hart-Scott-Rodino review.
• Genesis Molecular AIcoreTechnology or Integration · 20 May 2026Incyte expanded its AI-based drug discovery collaboration with Genesis Molecular AI from two to at least five targets. The expanded agreement involves $120 million upfront ($80 million cash + $40 million equity investment) plus up to $232 million per target in milestone payments, with potential royalties and total deal value exceeding $1 billion. Incyte provides proprietary experimental data for Genesis's GEMS AI foundation model training. The collaboration covers targets in oncology, hematology, and inflammation.
• AdageneminorStrategic or Co-development Partner · 2 April 2026Incyte entered a clinical collaboration with Adagene to evaluate muzastotug (ADG126), a masked anti-CTLA-4 antibody, in combination with INCA33890 (Incyte's TGFβR2×PD-1 bispecific antibody) in patients with microsatellite stable colorectal cancer (MSS CRC). The study is sponsored by Incyte and expected to begin in 2026, focusing on third-line patients with and without liver metastases.
• Mirum PharmaceuticalscoreOEM/ Whitelabel/ Licensing Partner · 1 April 2026Incyte licensed worldwide rights to zilurgisertib (an investigational ALK2 inhibitor for fibrodysplasia ossificans progressiva) to Mirum Pharmaceuticals. Mirum acquired the rights for $16 million upfront plus up to $63 million in milestones. The PROGRESS Phase 2 study showed an 81% reduction in new HO lesions vs placebo. FDA accepted the NDA under Priority Review with a PDUFA target action date of September 26, 2026. Incyte co-presented pivotal data at ENDO 2026.
• Specialised TherapeuticsminorChannel Partner/ Reseller/ Distributor · 1 June 2025Specialised Therapeutics entered an exclusive partnership with Incyte to commercialize NIKTIMVO (axatilimab) in Australia, New Zealand, and Singapore, and Minjuvi (tafasitamab) in the same regions. ST is pursuing PBS reimbursement for NIKTIMVO in Australia.
• Escient PharmaceuticalscoreStrategic or Co-development Partner · 23 April 2024Incyte acquired Escient Pharmaceuticals for $750 million. The acquisition included a pipeline of oral MRGPR (Mas-related G protein-coupled receptor) antagonists, EP262 and EP547, targeting inflammation and autoimmune disorders with potential applications in urticaria, pruritus, and other conditions.
• Agilent TechnologiesminorStrategic or Co-development Partner · 1 January 2024Agilent Technologies partnered with Incyte Corporation to expand Agilent's companion diagnostics portfolio and support Incyte's oncology and hematology therapies.
• MacroGenicsminorOEM/ Whitelabel/ Licensing Partner · 1 January 2024Incyte holds a global collaboration with MacroGenics for ZYNYZ (retifanlimab), a PD-1 inhibitor originally developed by MacroGenics. MacroGenics expanded a royalty purchase agreement with Sagard Healthcare Partners for ZYNYZ, receiving $60 million upfront with potential for additional sales-based milestones. MacroGenics sold a capped royalty interest on future global net sales of ZYNYZ.
• Villaris TherapeuticscoreStrategic or Co-development Partner · 4 October 2022Incyte agreed to acquire Villaris Therapeutics for a $70 million upfront payment plus potential milestone payments up to $1.36 billion. The deal included auremolimab, an anti-IL-15Rβ monoclonal antibody being developed for vitiligo. Development was expected to begin in 2023.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bristol-Myers Squibb: Major oncology and hematology competitor with complementary JAK franchise (fedratinib/Inrebic for myelofibrosis). Direct overlap in hematology/oncology indications including DLBCL, GVHD, and MPNs that Incyte targets.
• Novartis: Holds ex-US rights to Jakafi (marketed as Jakavi) and pays royalties to Incyte. Competes directly in myelofibrosis, polycythemia vera, and GVHD with established hematology commercial infrastructure across Incyte's key markets.
• AbbVie: Major immunology competitor with Rinvoq (upadacitinib) and Skyrizi competing against Opzelura and povorcitinib in atopic dermatitis, HS, and vitiligo. Overlapping JAK and IL-23 mechanism strategies in inflammation/autoimmunity.
• Eli Lilly: Markets Olumiant (baricitinib), a direct JAK1/JAK2 inhibitor competing with Jakafi in myelofibrosis and other indications. Active in both immunology and oncology, with significant overlap in autoimmune disease development.

Broad incumbents

• Pfizer: Large pharmaceutical incumbent with broad oncology/hematology portfolio and post-COVID diversification into inflammation/autoimmunity. Competes in multiple of Incyte's targeted indications through portfolio drugs including JAK inhibitors and biologics.
• AstraZeneca: Global biopharmaceutical incumbent with strong oncology and hematology franchises including Calquence, Tagrisso, and Imfinzi. Acquired Alexion for rare disease capabilities that overlap with Incyte's specialty/rare disease strategy.
• Sanofi: Major immunology player with Dupixent dominating atopic dermatitis (competing directly with Opzelura). Significant hematology/oncology presence and rare disease focus through Genzyme, with overlapping specialty/rare disease strategy.
• Amgen: Biopharmaceutical incumbent with established hematology/oncology and inflammation franchises. Pipeline includes multiple mAb and bispecific candidates that overlap with Incyte's approach to immune-mediated diseases.
• Roche: Global oncology and immunology leader with extensive biologics portfolio (rituximab, polatuzumab) competing in DLBCL and other lymphomas. Genentech R&D capabilities overlap with Incyte's oncology pipeline including bispecific antibodies.
• Johnson & Johnson: Diversified pharmaceutical incumbent with significant oncology, hematology, and immunology franchises. Tremfya and Stelara compete in inflammation/autoimmunity space, while Imbruvica and other agents overlap with Incyte's hematology/oncology focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/incyte
• YouTubeyoutube.com/channel/UCQu_9fYXOTWn4q3h-c0sKCg
• Facebookfacebook.com/Incyte
• LinkedInlinkedin.com/company/incyte
• Instagraminstagram.com/incyte

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments7 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Incyte