Goldman Sachs downgraded Incyte Corp (NASDAQ: INCY), citing continued uncertainty around Jakafi (Ruxolitinib) lifecycle management ahead of the mid-27/late-28 EU/US losses-of-exclusivity (LOEs).
Goldman Sachs seeks clarity on once-daily Jakafi that received an FDA complete response letter for certain types of myelofibrosis, polycythemia vera, and graft-versus-host disease.
Discussions with the FDA are ongoing, and INCY has noted that the most likely scenario would require a modified formulation and potentially a two-year delay with potential approval in 2026/2027.
The analyst downgraded the stock to Neutral from Buy, with the Full story available on Benzinga.com