Incyte Q2 revenue rises 38% to $1.67 billion; raises 2026 net sales guidance
Incyte reported second quarter 2026 total revenue of $1.67 billion, up 38%, and GAAP diluted EPS of $2.81 versus $2.04 a year earlier. The company raised its 2026 total net sales guidance to $5,130 to $5,260 million, but also raised GAAP operating expense guidance to $4,915 to $4,995 million, which includes an expected $1,270 million in-process R&D charge in the third quarter tied to the Vega Therapeutics acquisition. Quarterly sales were boosted by a one-time, non-cash $246 million Opzelura benefit.
Key points
- Total revenue was $1.67 billion, up 38%; GAAP net income was $585.6 million versus $405.0 million
- Total net sales were $1.49 billion, up 40%; excluding the one-time $246 million Opzelura benefit, net sales grew 17%
- 2026 total net sales guidance raised to $5,130 to $5,260 million from $4,770 to $4,940 million
- Expected IPR&D expense of approximately $1,270 million in Q3 2026 related to the $1.25 billion Vega Therapeutics acquisition
The filing
Written by AI on Nov 8, 2026, 1:10 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 28, 2026.
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