• Incyte Corporation's (NASDAQ: INCY) Q2 adjusted EPS reached $1.01, compared to $0.8067 posted a year ago. Analysts had estimated $0.75.

• Sales increased 29% Y/Y to $911.39 million, beating the consensus of $815.17 million.

• The company reported an operating income of $254.43 million, compared to $140.84 million posted a year ago.

• Jakafi net product revenues increased 13% Y/Y to $597.67 million, primarily driven by volume growth.

• The company said that the launch of Opzelura in atopic dermatitis continues to progress well, and in recent weeks, improvements in reimbursement have translated into an increase in covered claims.

• Q2 revenues were temporarily impacted by the shift from free drug to paid prescription. Patient demand and satisfaction remain strong," said Hervé Hoppenot, Chief Executive Officer, Incyte.

• The Olumiant royalty revenues fell 16% to $30.25 million.

• Guidance: Incyte expects FY22 Jakafi net product revenues at $2.36 - $2.40 billion (versus prior guidance of $2.33 - $2.40 billion) and other Hematology/Oncology net product revenues unchanged at $210 million - $240 million.

• Price Action: INCY shares are down 5.52% at $73.13 on the last check Tuesday.

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