Incyte Corp. posted a profit in the second quarter as sales of its blockbuster drug Jakafi picked up steam.
The company, based near Wilmington, highlighted the continued momentum in the commercialization of Jakafi in the U.S., as well as progress being made across its clinical portfolio.
“The commercial performance of Jakafi in Q2 2015 was very strong, confirming both underlying growth from the myelofibrosis indication and an acceleration in Jakafi growth from the launch in patients with uncontrolled polycythemia vera,” stated Hervé Hoppenot, Incyte’s CEO. “Recent data presented from our product candidates, and the progress we are making in recruiting multiple clinical trials, further illustrate the strength and diversity of our development portfolio.”
Jakafi is approved by the U.S. Food and Drug Administration for treatment of people with certain blood disorders. The company is researching the ability of the drug to treat other types of cancer.
For the quarter ended June 30, net product revenues of Jakafi were $142 million as compared to $84 million for the same period in 2014, up 69 percent.
For the six months ended June 30, 2015, net product revenues of Jakafi were $258 million as compared to $154 million for the same period in 2014, representing 68 percent growth.
For the quarter ended June 30, 2015, total revenues were $163 million compared to $100 million for the same period in 2014. For the six months ended June 30, 2015, total revenues were $322 million as compared to $189 million for the same period in 2014.
Net income for the quarter ended June 30, 2015 was $9 million, compared to a net loss of $37 million. Net loss for the six months ended June 30, was $9 million, compared to a net loss of $71 million for the same period in 2014.
Last week, the company confirmed it is looking at options for its headquarters site near Wilmington. The former Wanamaker department store site is already at capacity and the company is exploring the possibility of adding space.
