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Incyte Reports 2012 Third-Quarter Financial Results; Updates Shareholders On Launch Of Jakafi And Lead Clinical Programs

For comparative purposes, the following table presents the Company’s net product revenues as recognized for the three months ended March 31, 2012, and June 30, 2012, under the sell-through method, and as if the Company were still using the sell-through method for the three months ended September 30, 2012, which reflects a 16 percent increase in dispenses to patients from the second quarter to the third quarter:

             

Sell-Through Method

  Three Months Ended   Three Months Ended   Three Months Ended
  March 31, 2012   June 30, 2012   September 30, 2012

Product revenues, net

(in millions)

  $ 19.3   $ 29.7   $ 34.5*
 

* The $34.5 million excludes $9.0 million of previously deferred revenue and $0.2 million of gross-to-net adjustments and changes in inventory levels at the specialty pharmacies during the quarter.

2012 Guidance Update

The Company is updating its 2012 guidance and now anticipates that Jakafi net product revenues will be in the range of $130 million to $135 million, a change from the previous range of $120 million to $135 million.

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