Incyte Corp INCY

Incyte's Hematology and Dermatology Platforms Drive Consistent Growth and Support Narrow Moat

Incyte has build a solid foundation over the past decade with hematology drug Jakafi, and the approval of the same active ingredient as oral dermatology drug Opzelura is expanding the firm's focus to new therapeutic areas. We think the strategy to find more effective combination therapies in hematology and build a larger oncology and dermatology portfolio is solid, although we're waiting for key data before assuming the firm can grow through Jakafi's patent expiration in 2028.