Incyte (INCY) Targets $1B Growth by 2029 with New Drug Launches

Incyte Corporation (NASDAQ:INCY) is one of the 8 cheap beginner stocks to buy right now. At the 46th Annual Global Healthcare Conference hosted by Goldman Sachs on June 9, Incyte Corporation (NASDAQ:INCY) delivered a presentation, detailing its long-term strategic goals. The company highlighted its growing pipeline and expected revenue growth from new pharmaceutical launches while addressing the imminent loss of exclusivity for its main medicine, Jakafi.

In Q1 2025, Jakafi grew 24% year-over-year. According to management, three factors contributed to this growth. 10% came from demand, 7% from net pricing, and 7% from less destocking this year than in the same quarter last year. Looking ahead, Incyte Corporation (NASDAQ:INCY) anticipates that demand will be the only factor driving growth for the remainder of the year.

To broaden its portfolio beyond Jakafi, however, the company intends to introduce four new products or indications in 2025, with the goal of generating an extra $1 billion in revenue by 2029.

Incyte Corporation (NASDAQ:INCY), an American global pharmaceutical company, operates as a market leader in developing treatments for patients suffering from various diseases, including cancer.

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