Incyte's second quarter revenue and EPS significantly beat estimates, driven by a one-time Opzelura benefit, leading to raised full-year guidance.

Incyte reported second quarter 2026 revenue of $1.67 billion, up 38% year-over-year, and non-GAAP diluted EPS of $3.09. These results significantly surpassed analyst expectations, largely due to a one-time benefit related to its Opzelura drug.

Key Highlights

• Opzelura net sales surged 173% to $450 million, which included a one-time, non-cash benefit of $246 million from a CMS settlement; underlying sales grew 24% to $204 million.
• Jakafi net sales grew 7% year-over-year to $817 million, driven by a 9% increase in paid demand across all indications.
• The company raised its full-year 2026 total net sales guidance to a range of $5.13 billion to $5.26 billion, up from $4.77 billion to $4.94 billion previously.