Incyte Corporation is a Delaware-based pharmaceutical company that innovates, develops, and markets proprietary therapeutics. It has a host of products in the pipeline, from pre-clinical to late-stage development. It currently has one FDA-approved product known as JAKAFI that treats a bone marrow ailment. The company has also acquired a drug called Iclusig, used to treat myeloid leukemia. The company’s revenues have grown almost 5x in 5 years and its product pipeline holds plenty of promise for future growth.
Incyte Corporation is based out of Wilmington, Delaware. The company has offices in Switzerland and Tokyo as well. The company’s first product was JAKAFI. Incyte also has a collaboration agreement with Novartis where Novartis got exclusive rights to develop and commercialize ruxolitinib (JAKAFI) outside the US. Incyte’s business model is dominated by JAKAFI and it earned a revenue of $1.7 billion from the product in the fiscal year 2019.
JAKAFI seems to have some use for treating coronavirus as well as the company is now conducting a study to treat cytokine storm, a reaction caused by COVID, among patients who are 12 years and older. Besides JAKAFI, the company has other products in the pipeline like pemigatinib, a treatment for a cancer known as cholangiocarcinoma. Incyte is estimated to have some two dozen products in the pipeline.
Top Pharmaceutical Stocks To Buy Now
Pharmaceutical companies have been in focus throughout the year 2020. Incyte Corporation’s stock has gained 4.6% in the month of December 2020 while it is up 12% over the past year. However, on a 5-year basis, the stock is down by more than 8%. BioNTech SE is a peer of similar size. Its stock is down more than 30% over the past month but up about 500% in the last 5 years. A larger peer like Amgen is almost flat for the past month and up 52% over the past 5 years.