With Incyte losing patent protection for blood cancer standout Jakafi in late 2028, the Delaware-based company will have to rely more on its topical cream Opzelura.
In its fourth full year on the market, the company reported that sales for the topical JAK inhibitor reached $678 million, which was a 33% increase from 2024. The figure also topped Incyte’s expectations for Opzelura sales at the start of 2025, which were pegged at a range of $630 million to $678 million.
Incyte got a small bump in the fourth quarter from its pediatric launch of Opzelura, following its September FDA label expansion, clearing its use for kids with eczema ages 2 to 11. Sales are annualizing at $30 million in the indication, CEO Bill Meury said during a Tuesday conference call.
“Both dermatologists and parents are increasingly seeking non-steroidal options for atopic dermatitis, driven by concerns about long-term steroidal use,” Meury said.
Incyte is projecting sales of Opzelura to generate sales of $750 million to $790 million in 2026, which would be a 15% increase in sales at the midpoint. The estimate is based on an expectation of double-digit volume growth in the U.S. in eczema and vitiligo, partially offset by “price actions to expand formulary coverage,” Meury added.
There are opportunities for growth to “nearly double” the size of its Opzelura business, Meury said, citing that the non-steroidal segment of the atopic dermatitis market is growing 20% year over year. The next phase of growth will come from expanding its international business for Opzelura and by adding indications.
One of those potential indications is still up in the air as Incyte said that it has yet to decide whether to conduct a third phase 3 trial of Opzelura as a treatment for prurigo nodularis (PN), following the success of one of the studies and the failure of another.
Following recent feedback from the FDA that an additional study would be required to support an application for Opzelura in PN, Incyte has decided to “pause further development” of the drug for the indication at this now, the company said in a statement Tuesday.
The company is focused now on two phase 3 trials of Opzelura in hidradenitis suppurativa (HS). Incyte’s R&D chief Pablo Cagnoni added that there was “no read-through” from the PN trials affecting the studies in HS.
Incyte reported revenue at $1.51 billion for the fourth quarter, which was up 28% year over year. For the year, the company achieved revenue of $5.14 billion, which were up 21%. Jakafi sales increased by 11% in 2025 to $3.1 billion, accounting for 60% of the company’s revenue.
For 2026, Incyte is projecting Jakafi to generate between $3.22 billion and $3.27 billion in sales. The company is also estimating the combined sales of its hematology and oncology products outside of Jakafi to reach between $800 million and $880 million, which is up from 2025 sales of $583 million.