Incyte Corporation (Nasdaq: INCY) announced today that it has earned a
$60 million milestone payment from Novartis related to reimbursement of
Jakavi® (ruxolitinib) in Europe. Incyte will record this
amount as contract revenue in the third quarter, and expects to receive
payment of $60 million in the fourth quarter.
Under the Incyte-Novartis Collaboration and License Agreement signed in
2009, Novartis received exclusive development and commercialization
rights to ruxolitinib outside of the United States for all hematologic
and oncologic indications, and sells ruxolitinib under the name Jakavi.
Ruxolitinib is marketed by Incyte in the United States as Jakafi®
(ruxolitinib).
The achievement of this milestone also triggers the obligation for
Incyte to pay tiered, low-single digit royalties to Novartis on all
future sales of Jakafi in the U.S.
About Jakafi® (ruxolitinib)
Jakafi is a prescription medicine approved by the U.S. Food and Drug
Administration to treat people with intermediate or high-risk
myelofibrosis (MF), including primary MF, post–polycythemia vera MF and
post–essential thrombocythemia MF. Jakafi is marketed by Incyte in the
United States and by Novartis as Jakavi® (ruxolitinib)
outside the United States.
Important Safety Information
Jakafi can cause serious side effects including:
Low blood counts: Jakafi may cause your platelet, red blood cell,
or white blood cell counts to be lowered. If you develop bleeding, stop
taking Jakafi and call your healthcare provider. Your healthcare
provider will perform blood tests to check your blood counts before you
start Jakafi and regularly during your treatment. Your healthcare
provider may change your dose of Jakafi or stop your treatment based on
the results of your blood tests. Tell your healthcare provider right
away if you experience unusual bleeding, bruising, fatigue, shortness of
breath, or a fever.
Infection: You may be at risk for developing a serious infection
while taking Jakafi. Tell your healthcare provider if you develop
symptoms such as chills, nausea, vomiting, aches, weakness, fever, or
painful skin rash or blisters.
The most common side effects of Jakafi include dizziness and headache.
These are not all the possible side effects of Jakafi. Ask your
healthcare provider or pharmacist for more information. Tell your
healthcare provider about any side effect that bothers you or that does
not go away.
Before taking Jakafi, tell your healthcare provider about all the
medications, vitamins, and herbal supplements you are taking and all
your medical conditions, including if you have an infection, have or had
liver or kidney problems, are on dialysis, or have any other medical
condition. Take Jakafi exactly as your healthcare provider tells you. Do
not change or stop taking Jakafi without first talking to your
healthcare provider. Do not drink grapefruit juice while on Jakafi.
Women should not take Jakafi while pregnant or planning to become
pregnant, or if breast-feeding.
Please see the Full Prescribing Information available at www.incyte.com,
which includes a more complete discussion of the risks associated with
Jakafi.
About Incyte
Incyte Corporation is a Wilmington, Delaware-based biopharmaceutical
company focused on the discovery, development and commercialization of
proprietary small molecule drugs, primarily for oncology. For additional
information on Incyte, please visit the Company’s website at www.incyte.com.
Copyright Business Wire 2014