Biotech Values

[poorgradstudent]

INCY:

Without RA-BEAM, I presume the commercial proposition in RA becomes cloudy. Is that correct?

I think RA-BEAM is important insofar as gaining mindshare in RA. If they can show some relevant data against an anti-TNF biologic, even if it's non-inferiority, that will at least prompt people to take a second look. They can try and detail with a message of "we compare well to anti-tnf..." Otherwise, they're left to detail that they're a better tofacitinib.

I think tofacitinib is tracking towards 500 million WW this year, so as you note trying to claw away at the biologic market is more attractive than stealing share from tofacitinib.