Incyte weak 2026 revenue forecast heightens Jakafi patent concerns

Feb 10 (Reuters) - Incyte forecast yearly income beneath Wall Street estimates connected Tuesday with its cardinal maturation operator Opzelura expected ​to underperform, raising concerns astir the drugmaker's quality to offset ‌looming patent losses connected top-seller Jakafi.

Shares of the Wilmington, Delaware-based institution fell implicit 4% ‌in premarket trading.

Incyte expects 2026 gross betwixt $4.77 cardinal and $4.94 billion, good beneath analysts' mean estimation of $5.52 billion, according to LSEG data.

The anemic forecast underscores unit connected Opzelura, the tegument upset attraction Incyte is banking connected to ⁠drive aboriginal maturation arsenic ‌Jakafi faces patent expiration successful 2028.

The institution expects Opzelura to make $750 cardinal to $790 cardinal successful 2026 revenue, beneath ‍the $801.5 cardinal analysts estimate.

The cautious forecast comes contempt beardown fourth-quarter performance, with Opzelura income jumping 28% to $207.3 million, beating estimates of $195.6 million.

BMO expert Evan Seigerman said ​the "softer usher for Opzelura leaves enactment to beryllium done successful 2026," ‌as investors ticker whether maturation products tin capable the spread aft Jakafi's patent expiration.

Opzelura is utilized for vitiligo and atopic dermatitis successful patients aged 12 and older. The institution expects a regulatory determination successful the 2nd fractional of this twelvemonth for an anticipated ex-U.S. motorboat successful ⁠moderate atopic dermatitis successful precocious 2026.

Jakafi, ​Incyte's flagship attraction for humor cancers including ​myelofibrosis and polycythemia vera, remains the company's apical seller. Incyte expects 2026 Jakafi income of $3.22 cardinal to $3.27 billion, supra ‍the $3.09 cardinal expert estimate.

Fourth-quarter ⁠Jakafi income roseate 7% to $828.2 million, topping estimates.

On an adjusted basis, Incyte earned $1.80 per stock for the 4th ended December 31, ⁠below the analysts' estimation of $1.93.

Total gross came successful astatine $1.51 billion, exceeding estimates of $1.35 ‌billion, boosted by $100 cardinal successful milestone payments.

(Reporting by Kamal Choudhury ‌in Bengaluru; Editing by Shailesh Kuber)