Incyte forecasts annual sales below expectations, with Opzelura falling short, raising concerns about offsetting Jakafi’s patent losses. Shares drop over 4% in premarket trading. Revenue expected between $4.77 billion and $4.94 billion, below analysts’ $5.52 billion estimate. Opzelura to generate $750-790 million in 2026, below $801.5 million estimate.

Despite strong Q4 performance, Incyte gives cautious forecast for Opzelura, with sales jumping 28% to $207.3 million. Analysts concerned about filling gap after Jakafi’s patent expiration in 2028. Opzelura used for vitiligo and atopic dermatitis, with regulatory decision expected in the second half of the year.

Jakafi remains Incyte’s top seller for blood cancers, with 2026 sales forecasted at $3.22-3.27 billion, above analyst estimate. Q4 Jakafi sales rose 7% to $828.2 million. Adjusted earnings per share for Q4 at $1.80, below analysts’ $1.93 estimate. Total revenue at $1.51 billion, boosted by $100 million in milestone payments.

Read more at Yahoo Finance: Incyte weak 2026 revenue forecast heightens Jakafi patent concerns