Incyte Earns $25M Novartis Milestone

Incyte Corp has earned a $25 million milestone payment from Novartis, triggered by the EMA’s positive opinion for Jakavi (ruxolitinib) for the treatment of adult patients with polycythemia vera (PV) who are resistant to or intolerant of hydroxyurea.
 
Under the collaboration and license agreement signed in 2009, Novartis has exclusive development and commercialization rights to ruxolitinib outside of the U.S. for all hematologic and oncologic indications, and sells ruxolitinib under the name Jakavi. Incyte markets ruxolitinib as Jakafi in the U.S.
 
“We are very pleased with the progress that Novartis has made in the global development and commercialization of Jakavi,” said Hervé Hoppenot, president and chief executive officer of Incyte. “This recommendation for approval in Europe, the second indication for Jakavi and many months ahead of schedule, is further evidence that our innovative scientific advances can offer significant benefit to patients.”