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Prior to opening the call for Q&A Paul will close with a summary of some of our other programs. Before beginning we’d like to remind you that some of the statements made during the call today are forward-looking statements including statements regarding our expectations for the launch and commercialization of Jakafi, our product revenue guidance as well as our development plan. These forward-looking statements are subject to a number of risks and uncertainties that may cause our actual results to differ materially including those described in our Form 10(q) for the quarter ended March 31, 2012 and from time to time in our other SEC documents. Paul?Paul Friedman Good morning. The launch of Jakafi for patients with intermediate or high-risk Myelofibrosis continues to go well and is pretty much right on the forecasts that we’ve made. During Q2 we shipped $35.1 million of Jakafi to our specialty pharmacies compared to $25.1 million in Q1. As Pat will describe in greater detail we’re seeing steady growth in the use of Jakafi by hematologists and oncologists. Since the pace of the launch is going as we expected, we’re providing revenue guidance for 2012 net product sales in the range of $120 million to $135 million. This range reflects our continued belief that the growth will be steady and gradual as physicians move from prescribing Jakafi for more severely ill MF patients to using the product in less severely ill patients, specifically patients with any degree of splenomegaly and/or symptoms. The drug provides dramatic relief in spleen reduction and in symptom improvement and additionally, as we shared with you last quarter, further analysis of COMFORT 1 first published in The New England Journal of Medicine further suggests that there may be a survival advantage for Jakafi over placebo. In that regard, more recently [Doctor Bershtofstick] et al published an article in the journal Blood regarding their analysis of 107 MF patients from our Phase I/II study. In the article, the authors state that in this group of patients followed for a median of 32 months there could be a survival advantage with ruxolitinib treatment when compared to historic controls who had similar patient entry criteria. Now, while there are clearly limitations to these comparisons to historical controls, the authors also state that the data suggests a survival benefit from ruxolitinib independent of any comparison with a historical control group. Specifically, survival in the high-risk patients treated with ruxolitinib was consistent with that of intermediate II risk patients. The published data states that the normal life expectancy for high-risk patients is approximately two years compared to four years for intermediate II risk patients. This would suggest a very meaningful improvement in survival.
In early June there were a number of Jakafi posters presented as ASCO, all of which are available from our website. One I want to highlight which is also the subject of an oral presentation at EHA is for the ongoing Phase II study in patients with baseline platelet counts between 50,000 and 100,000 who as you may recall were excluded from the Phase III trials but are part of the indication in the label. In this study we start patients with a dose of 5 mg twice daily and allow for dose modifications based on adequate platelet counts.At the time of this interim analysis the majority of patients had optimized their dose to 10 mg twice daily or higher, and for patients completing the week 24 visit most experienced reductions in spleen size and improvements in symptoms to a degree that is comparable to what we saw at 15 mg and 20 mg twice a day in the Phase III trials. I’ll now turn the call over to Pat who will provide you with more details on the launch; Dave will follow with an update about our financial performance for Q2, and I’ll conclude by providing an update on our other ongoing programs. Pat? Patricia Andrews Thanks, Paul. Good morning. We’re going to start with a few metrics that may help you appreciate the basis for the guidance we’re now providing. I’m pleased to say that we were able to increase the number of physicians who have used Jakafi from over 1000 reported in Q1 to over 1600 in Q2. We’re building a broad base of subscribers, of which about 80% are from the community; and since launch, these community hematologists/oncologists have generated about 75% of the prescription volumes. Read the rest of this transcript for free on seekingalpha.com