WILMINGTON, DE — Incyte (Nasdaq: INCY) delivered strong first-quarter financial results for 2025, propelled by revenue growth across its key products and continued advances in its clinical portfolio. Total revenues reached $1.053 billion in the first quarter, up 20% year-over-year, with total product revenues climbing 26% to $922 million.
Jakafi® (ruxolitinib), the company’s flagship product, led the performance with net revenues of $709 million, reflecting a 24% year-over-year increase. The growth was attributed to strong demand across indications and favorable impacts from U.S. policy changes. Meanwhile, Opzelura® (ruxolitinib cream) saw a 38% revenue increase, achieving $119 million in sales driven by demand in atopic dermatitis and vitiligo, along with expansion in Europe. Newly launched Niktimvo™ (axatilimab-csfr) reported $14 million in initial sales, demonstrating robust market uptake.
“The double-digit revenue growth in the first quarter driven by the continued growth of Jakafi and Opzelura, and the recent launch of Niktimvo, puts us on track to achieve our full-year objectives,” said Hervé Hoppenot, CEO of Incyte. “We also continued to advance our innovative pipeline, which will be critical for driving long-term growth.”
Significant progress was also made in clinical developments. Notably, Phase 3 data for povorcitinib in hidradenitis suppurativa (HS) highlighted improved outcomes at 18 weeks, reinforcing its potential across multiple indications. Additional Phase 2 results for povorcitinib in chronic spontaneous urticaria provided proof-of-concept for a new application.
Looking ahead, the company plans to advance its pipeline, including pivotal studies for its CDK2 inhibitor in ovarian cancer and tafasitamab in DLBCL, both expected in 2025.
With raised 2025 revenue guidance for Jakafi, robust pipeline updates, and strong product performances, Incyte is well-positioned to sustain its growth momentum throughout the year.
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