Incyte Corporation

Hello, and welcome to the Insight Third Quarter 2022 Financial and Corporate Update Conference Call and Webcast. At this time, all participants are in a listen-only mode. If anyone should require operator assistance, please press star zero on your telephone keypad. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Christine Cho, Head of Investor Relations. Please go ahead.

Thank you, Kevin. Good morning and welcome to Insight's third quarter 2022 earnings conference call and webcast. The slides presented today are available for download on the investor section of our website. Joining me on the call today are Herve, Barry, Stephen, and Christiana, who will deliver our prepared remarks, and Dash, who will join us for the Q&A. Before we begin, I'd like to remind you that some of the statements made during the call today are forward-looking statements and are subject to a number of risks and uncertainties that may cause our actual results to differ materially, including those described in our reports filed with the SEC. We will now begin the call with Hervé.

Thank you, Christine, and good morning, everyone. So in the sub-quarter, our product revenues increased 20% year-over-year to $713 million, benefiting from strong JAKAFI sales growth, as well as an increasing contribution from OBSELURA net sales. JAKAFI net sales grew 13% to $620 million, driven by robust growth in chronic GVHD, as well as new patient growth in MF and PV. Opseloa net sales more than doubled versus prior quarter to 38 million, and we continue to execute on the successful launch in AD and DT LIGO, driving increased demand while also significantly improving formulary access. The ex-US launches of Pemazir and Minjuvi, which are both still in early stages, contributed to the 19% growth coming from other hematology and oncology products. Turning to slide five, we have multiple opportunities for significant growth in both oncology and dermatology with our recent approvals and the potential for multiple new products and new indications over the next several years. For our oncology franchise, recent launches in new indications and new markets provide further growth opportunities for JAKA5, PMZ, and MINJUI. In LIMBER, pivotal data from two programs, axatilimab in chronic GVHD and roxalitinib plus parsaclizib in MF are expected next year. And we expect data for BET, ALK2 in 2022 and 2023 to define the path forward for this program. Outside of MPNs and GVHD, we have multiple early and late stage clinical programs, including our Oral PD-L1 program, which was the first to show clinical activity as an Oral PD-L1 and we have updated data at CITC next week. In addition to oncology is our dermatology franchise, where Optelora is a key near-term driver with launches currently underway in atopic dermatitis and vitiligo. Our dermatology pipeline is expanding, with new indications being developed for roxalitinib cream, as well as povacitinib and oremolimab in areas of high medical need. Dispositions as well for significant growth, and diversification. With that, I will turn the call over to Barry.