Incyte Corporation's (NASDAQ:INCY) third-quarter revenue was $1.37 billion. The company beat the consensus of $1.26 billion.

Total revenues increased 20% year over year, primarily driven by a rise in total net product revenues.

Total net product revenue was $1.15 billion, representing a 19% increase. The increase was primarily related to patient demand for Jakafi (ruxolitinib) across all indications and strong uptake of the initial launch of Niktimvo (axatilimab-csfr).

Incyte's adjusted earnings were $2.26 per share, a jump from $1.07 a year ago, beating the consensus estimate of $1.66.

Also Read: FDA Expands Incyte's Opzelura Approval To Treat Atopic Dermatitis In Children

"We are taking a deliberate approach to pipeline prioritization. We are actively reviewing our R&D efforts and focusing on high-value programs that are scientifically differentiated, address unmet medical needs, and have the potential to significantly drive Incyte's next phase of growth," said Bill Meury, President and CEO, Incyte.

Based on ongoing ...