Biotech Values

[pcrutch]

I am pretty surprised, especially given a very favorable label that doesnt have a blackbox warning, REMS program, no need for a post-marketing study and little restrictions on blood platelet count. Their label covers more than 70% of all MF patients too. [ All of which the Street had not priced in their expectations.]

MF is a chronic disease like CML in some ways, so patients will be presumably be on Jakafi for a number of years. INCY's patents on Jakafi go out to 2026, so they have a number of years to profit from this. I think INCY is cheap here.

On the call, they also announced that NVS had received 120-day questions already and was preparing response to the EMA, so MAA approval could be coming early next quarter.[not sure if they got an accelerated review, but would be surprised if they didnt.]