Incyte's Jakafi and Growing Oncology and Dermatology Portfolio Support a Narrow Moat

Incyte's lead drug, Jakafi, initially gained traction in 2011 as the only drug approved for severe myelofibrosis, a rare blood disorder. Jakafi's stronghold of the MF market is likely to continue, although new drugs are entering the market for subsets of the population. Incyte expanded Jakafi’s label to polycythemia vera (2014), steroid refractory acute graft versus host disease (2019), and chronic GvHD (2021) should together push peak U.S. sales to nearly $3.5 billion.