JAK1

WILMINGTON, Del.--(BUSINESS WIRE)--Incyte (Nasdaq:INCY) today reports 2025 first quarter financial results, and provides a status update on the Company’s clinical development portfolio. "The double-digit revenue growth in the first quarter driven by the continued growth of Jakafi and Opzelura and the recent launch of Niktimvo, puts us on track to achieve our full year objectives," said Hervé Hoppenot, Chief Executive Officer, Incyte. "We also continued to advance our innovative pipeline, which will be critical for driving long-term growth. The positive Phase 3 results for povorcitinib in hidradenitis suppurativa in addition to the proof-of-concept in chronic spontaneous urticaria, strengthens the potential of povorcitinib as a multibillion-dollar product addressing patient needs across the five indications currently in development.” Key Commercial Highlights Jakafi® (ruxolitinib): Net product revenues for the first quarter 2025 of $709 million (+24% Y/Y): Opzelura® (ruxolitinib) cream: Net product revenues for the first quarter 2025 of $119 million (+38% Y/Y): Pipeline Updates Myeloproliferative Neoplasms (MPNs) and Graft-Versus-Host Disease (GVHD) – key highlights MPN and GVHD Programs Indication and status Ruxolitinib XR (QD) (JAK1/JAK2) Myelofibrosis, polycythemia vera and GVHD Ruxolitinib + INCB57643 (JAK1/JAK2 + BETi) Myelofibrosis: Phase 2 Ruxolitinib + axatilimab1 (JAK1/JAK2 + anti-CSF-1R) Chronic GVHD: Phase 2 Steroids + axatilimab1 (Steroids + anti-CSF-1R) Chronic GVHD: Phase 3 INCA33989 (mutCALR) Myelofibrosis, essential thrombocythemia: Phase 1 INCB160058 (JAK2V617Fi) Myelofibrosis: Phase 1 1 Clinical development of axatilimab in GVHD conducted in collaboration with Syndax Pharmaceuticals. Other Hematology/Oncology – key highlights Heme/Oncology Programs Indication and status Tafasitamab (Monjuvi®/Minjuvi®) (CD19) Relapsed or refractory diffuse large B-cell lymphoma (DLBCL): Phase 3 (B-MIND) First-line DLBCL: Phase 3 (frontMIND) Relapsed or refractory follicular lymphoma (FL): Phase 3 (inMIND) Retifanlimab (Zynyz®)1 (PD-1) Squamous cell anal cancer (SCAC): Phase 3 (POD1UM-303) Non-small cell lung cancer (NSCLC): Phase 3 (POD1UM-304) MSI-high endometrial cancer: Phase 2 (POD1UM-101, POD1UM-204) INCB123667 (CDK2i) Solid tumors with CCNE1 amplification/Cyclin E overexpression: Phase 1 INCB161734 (KRASG12D) Advanced metastatic solid tumors with a KRASG12D mutation: Phase 1 INCA33890 (TGFßR2×PD-1)2 Advanced or metastatic solid tumors: Phase 1 1 Retifanlimab licensed from MacroGenics. 2 Development in collaboration with Merus. Inflammation and Autoimmunity (IAI) – key highlights Ruxolitinib Cream Povorcitinib (INCB54707) IAI and Dermatology Programs Indication and status Ruxolitinib cream (Opzelura)1 (JAK1/JAK2) Atopic dermatitis: Phase 3 pediatric study (TRuE-AD3) Hidradenitis suppurativa: Phase 2; Phase 3 expected to initiate in 2025 Prurigo nodularis: Phase 3 (TRuE-PN1, TRuE-PN2) Povorcitinib (JAK1) Hidradenitis suppurativa: Phase 3 (STOP-HS1, STOP-HS2) Vitiligo: Phase 3 (STOP-V1, STOP-V2) Prurigo nodularis: Phase 3 (STOP-PN1, STOP-PN2) Chronic spontaneous urticaria: Phase 2 Asthma: Phase 2 INCA034460 (anti-CD122) Vitiligo: Phase 1 1 Novartis’ rights to ruxolitinib outside of the United States under our Collaboration and License Agreement with Novartis do not include topical administration. Other - key highlights In February 2025, Incyte and Genesis Therapeutics, Inc. (Genesis) entered into a strategic collaboration focused on the research, discovery and development of novel small molecule medicines, with an initial focus on collaboration targets selected by Incyte. Incyte receives exclusive rights to develop and commercialize collaboration products leveraged through Genesis’ GEMS artificial intelligence (AI) platform. Other Program Indication and Phase Zilurgisertib (ALK2) Fibrodysplasia ossificans progressiva: Pivotal Phase 2 2025 First Quarter Financial Results The financial measures presented in this press release for the three months ended March 31, 2025 and 2024 have been prepared by the Company in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), unless otherwise identified as a Non-GAAP financial measure. Management believes that Non-GAAP information is useful for investors, when considered in conjunction with Incyte’s GAAP disclosures. Management uses such information internally and externally for establishing budgets, operating goals and financial planning purposes. These metrics are also used to manage the Company’s business and monitor performance. The Company adjusts, where appropriate, for expenses in order to reflect the Company’s core operations. The Company believes these adjustments are useful to investors by providing an enhanced understanding of the financial performance of the Company’s core operations. The metrics have been adopted to align the Company with disclosures provided by industry peers. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used in conjunction with and to supplement Incyte’s operating results as reported under GAAP. Non-GAAP measures may be defined and calculated differently by other companies in our industry. As changes in exchange rates are an important factor in understanding period-to-period comparisons, Management believes the presentation of certain revenue results on a constant currency basis in addition to reported results helps improve investors’ ability to understand its operating results and evaluate its performance in comparison to prior periods. Constant currency information compares results between periods as if exchange rates had remained constant period over period. The Company calculates constant currency by calculating current year results using prior year foreign currency exchange rates and generally refers to such amounts calculated on a constant currency basis as excluding the impact of foreign exchange or being on a constant currency basis. These results should be considered in addition to, not as a substitute for, results reported in accordance with GAAP. Results on a constant currency basis, as the Company presents them, may not be comparable to similarly titled measures used by other companies and are not measures of performance presented in accordance with GAAP. Financial Highlights Financial Highlights (unaudited, in thousands, except per share amounts) Three Months Ended March 31, 2025 2024 Total GAAP revenues $ 1,052,898 $ 880,889 Total GAAP operating income 205,168 91,898 Total Non-GAAP operating income 283,641 161,183 GAAP net income 158,203 169,548 Non-GAAP net income 229,459 132,719 GAAP basic EPS $ 0.82 $ 0.76 Non-GAAP basic EPS $ 1.18 $ 0.59 GAAP diluted EPS $ 0.80 $ 0.75 Non-GAAP diluted EPS $ 1.16 $ 0.58 Revenue Details Revenue Details (unaudited, in thousands) Three Months Ended March 31, % Change (as reported) % Change (constant currency)1 2025 2024 Net product revenues: Jakafi $ 709,412 $ 571,839 24 % NA Opzelura 118,705 85,724 38 % 39 % Iclusig 29,544 30,343 (3 %) — % Pemazyre 18,440 17,676 4 % 6 % Minjuvi/ Monjuvi 29,551 23,874 24 % 25 % Niktimvo 13,613 — NM NA Zynyz 3,009 467 544 % NA Total net product revenues 922,274 729,923 26 % 27 % Royalty revenues: Jakavi 92,145 89,595 3 % 6 % Olumiant 30,800 30,589 1 % 6 % Tabrecta 6,413 5,234 23 % NA Other 1,266 548 131 % NM Total royalty revenues 130,624 125,966 4 % Total net product and royalty revenues 1,052,898 855,889 23 % Milestone and contract revenues — 25,000 — % — % Total GAAP revenues $ 1,052,898 $ 880,889 20 % NM = not meaningful NA = not applicable 1 Percentage change in constant currency is calculated using 2024 foreign exchange rates to recalculate 2025 results. Product and Royalty Revenues Total net product and royalty revenues for the quarter ended March 31, 2025 increased 23% over the prior year comparative period. Total net product revenues for the quarter ended March 31, 2025 increased 26% over the prior year comparative period primarily driven by the following: Jakafi net product revenue increased 24% versus the prior year comparable period, driven by an increase in paid demand of 10% reflecting continued demand growth in all indications, the positive impact of the Part D redesign under the Inflation Reduction Act, partially offset by growth in 340B, and 7% favorable impact from less de-stocking compared to the first quarter of 2024. Jakafi inventory levels were within normal range at the end of the first quarter of 2025. Opzelura net product revenue increased 38% due to continued growth in new patient starts and refills in the U.S. with U.S. paid demand up 24% versus the first quarter of 2024, partially offset by a reduction in channel inventory, and increased contribution from ex-U.S. driven by continued uptake in Germany and France, as well as growth from the recent launches in Italy and Spain. Opzelura inventory levels were within normal range at the end of the first quarter of 2025. Minjuvi/Monjuvi net product revenue increased 24% as a result of the first quarter of 2025 reflecting three months of net product revenues in the U.S., compared to two months of net product revenue in the first quarter of 2024 due to the acquisition of U.S. rights to Monjuvi, which closed in February 2024. Niktimvo net product revenue driven by the commercial launch of the product during the first quarter of 2025. Operating Expenses Operating Expense Summary (unaudited, in thousands) Three Months Ended March 31, % Change 2025 2024 GAAP cost of product revenues $ 73,188 $ 60,956 20 % Non-GAAP cost of product revenues1 66,945 54,959 22 % GAAP research and development 437,279 429,260 2 % Non-GAAP research and development2 400,020 388,437 3 % GAAP selling, general and administrative 325,691 300,256 8 % Non-GAAP selling, general and administrative3 302,292 277,335 9 % GAAP loss (gain) on change in fair value of acquisition-related contingent consideration 11,572 (456 ) NM Non-GAAP loss (gain) on change in fair value of acquisition-related contingent consideration — — — % GAAP (profit) and loss sharing under collaboration agreements — (1,025 ) — % 1 Non-GAAP cost of product revenues excludes the amortization of licensed intellectual property for Iclusig relating to the acquisition of the European business of ARIAD Pharmaceuticals, Inc. and the cost of stock-based compensation. 2 Non-GAAP research and development expenses exclude the cost of stock-based compensation, MorphoSys transition costs, and Escient severance payments. 3 Non-GAAP selling, general and administrative expenses exclude the cost of stock-based compensation, MorphoSys transition costs, and Escient severance payments. Cost of product revenues GAAP and Non-GAAP cost of product revenues for the quarter ended March 31, 2025 increased 20% and 22% respectively, compared to the same period in 2024 primarily due to increased royalty expense. Research and development expenses GAAP and Non-GAAP research and development expense for the quarter ended March 31, 2025 increased 2% and 3%, respectively, compared to the same period in 2024, reflecting continued investment in our late stage development assets and timing of certain expenses. Selling, general and administrative expenses GAAP and Non-GAAP selling, general and administrative expenses for the quarter ended March 31, 2025 increased 8% and 9%, respectively, compared to the same period in 2024 primarily due to timing of consumer marketing activities and of certain other expenses. Other Financial Information Change in fair value of acquisition-related contingent consideration The change in fair value of contingent consideration during the quarter ended March 31, 2025, compared to the same period in 2024, was primarily due to fluctuations in foreign currency exchange rates impacting future revenue projections of Iclusig. Operating income GAAP and Non-GAAP operating income for the three months ended March 31, 2025 increased 123% and 76%, respectively, compared to the same period in 2024, driven primarily by growth in net product revenue. Cash, cash equivalents and marketable securities position As of March 31, 2025 and December 31, 2024, cash, cash equivalents and marketable securities totaled $2.4 billion and $2.2 billion, respectively. 2025 Financial Guidance Incyte's guidance for the fiscal year 2025 is summarized below. Incyte is raising its full year 2025 Jakafi revenue guidance. Guidance for Opzelura includes net product revenue for pediatric atopic dermatitis which has an anticipated approval in the second half of 2025. Guidance for other oncology net product revenues include net product revenue for Monjuvi in follicular lymphoma and Zynyz in squamous cell anal carcinoma. Approvals for these indications are anticipated in the second half of 2025. Guidance for research and development excludes the $15 million of expense for the full year 2025 related to our recently announced collaboration with Genesis. Current Previous Jakafi net product revenues $2,950 - $3,000 million $2,925 - $2,975 million Opzelura net product revenues Unchanged $630 - $670 million Other oncology net product revenues(1) Unchanged $415 - $455 million GAAP Cost of product revenues Unchanged 8.5% - 9.0% of net product revenues Non-GAAP Cost of product revenues(2) Unchanged 7.5% - 8.0% of net product revenues GAAP Research and development expenses Unchanged $1,930 - $1,960 million Non-GAAP Research and development expenses(3) Unchanged $1,780 - $1,805 million GAAP Selling, general and administrative expenses Unchanged $1,280 - $1,310 million Non-GAAP Selling, general and administrative expenses(3) Unchanged $1,160 - $1,185 million 1Pemazyre in the U.S., EU and Japan; Niktimvo, Monjuvi and Zynyz in the U.S.; and Iclusig and Minjuvi in the EU. 2Adjusted to exclude the amortization of licensed intellectual property for Iclusig relating to the acquisition of the European business of ARIAD Pharmaceuticals, Inc. and the estimated cost of stock-based compensation. 3Adjusted to exclude the estimated cost of stock-based compensation. Conference Call and Webcast Information Incyte will hold a conference call and webcast this morning at 8:00 a.m. ET. To access the conference call, please dial 877-407-3042 for domestic callers or 201-389-0864 for international callers. When prompted, provide the conference identification number, 13753168. If you are unable to participate, a replay of the conference call will be available for 90 days. The replay dial-in number for the United States is 877-660-6853 and the dial-in number for international callers is 201-612-7415. To access the replay you will need the conference identification number, 13753168. The conference call will also be webcast live and can be accessed at investor.incyte.com. About Incyte A global biopharmaceutical company on a mission to Solve On., Incyte follows the science to find solutions for patients with unmet medical needs. Through the discovery, development and commercialization of proprietary therapeutics, Incyte has established a portfolio of first-in-class medicines for patients and a strong pipeline of products in Oncology and Inflammation & Autoimmunity. Headquartered in Wilmington, Delaware, Incyte has operations in North America, Europe and Asia. For additional information on Incyte, please visit Incyte.com or follow us on social media: LinkedIn, X, Instagram, Facebook, YouTube. About Jakafi® (ruxolitinib) Jakafi® (ruxolitinib) is a JAK1/JAK2 inhibitor approved by the U.S. FDA for treatment of polycythemia vera (PV) in adults who have had an inadequate response to or are intolerant of hydroxyurea; intermediate or high-risk myelofibrosis (MF), including primary MF, post-polycythemia vera MF and post-essential thrombocythemia MF in adults; steroid-refractory acute GVHD in adult and pediatric patients 12 years and older; and chronic GVHD after failure of one or two lines of systemic therapy in adult and pediatric patients 12 years and older. Jakafi is a registered trademark of Incyte. About Opzelura® (ruxolitinib) Cream Opzelura® (ruxolitinib) cream, a novel cream formulation of Incyte’s selective JAK1/JAK2 inhibitor ruxolitinib, approved by the U.S. Food & Drug Administration for the topical treatment of nonsegmental vitiligo in patients 12 years of age and older, is the first and only treatment for repigmentation approved for use in the United States. Opzelura is also approved in the U.S. for the topical short-term and non-continuous chronic treatment of mild to moderate atopic dermatitis (AD) in non-immunocompromised patients 12 years of age and older whose disease is not adequately controlled with topical prescription therapies, or when those therapies are not advisable. Use of Opzelura in combination with therapeutic biologics, other JAK inhibitors, or potent immunosuppressants, such as azathioprine or cyclosporine, is not recommended. In Europe, Opzelura (ruxolitinib) cream 15mg/g is approved for the treatment of non-segmental vitiligo with facial involvement in adults and adolescents from 12 years of age. Incyte has worldwide rights for the development and commercialization of ruxolitinib cream, marketed in the United States as Opzelura. Opzelura and the Opzelura logo are registered trademarks of Incyte. About Monjuvi® (tafasitamab-cxix) Monjuvi® (tafasitamab-cxix) is a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody. In 2010, MorphoSys licensed exclusive worldwide rights to develop and commercialize tafasitamab from Xencor, Inc. Tafasitamab incorporates an XmAb® engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including Antibody-Dependent Cell-Mediated Cytotoxicity (ADCC) and Antibody-Dependent Cellular Phagocytosis (ADCP). MorphoSys and Incyte entered into: (a) in January 2020, a collaboration and licensing agreement to develop and commercialize tafasitamab globally; and (b) in February 2024, an agreement whereby Incyte obtained exclusive rights to develop and commercialize tafasitamab globally. Following accelerated approval by the U.S. Food and Drug Administration in July 2020, Monjuvi® (tafasitamab-cxix) is being commercialized in the United States by Incyte. In Europe, Minjuvi® (tafasitamab) received conditional Marketing Authorization from the European Medicines Agency in August 2021. XmAb® is a registered trademark of Xencor, Inc. Monjuvi, Minjuvi, the Minjuvi and Monjuvi logos and the “triangle” design are (registered) trademarks of Incyte. About Pemazyre® (pemigatinib) Pemazyre® (pemigatinib) is a kinase inhibitor indicated in the United States for the treatment of adults with previously treated, unresectable locally advanced or metastatic cholangiocarcinoma with a fibroblast growth factor receptor 2 (FGFR2) fusion or other rearrangement as detected by an FDA-approved test. This indication is approved under accelerated approval based on overall response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in a confirmatory trial(s). Pemazyre is also the first targeted treatment approved for use in the United States for treatment of adults with relapsed or refractory myeloid/lymphoid neoplasms (MLNs) with FGFR1 rearrangement. In Japan, Pemazyre is approved for the treatment of patients with unresectable biliary tract cancer (BTC) with a fibroblast growth factor receptor 2 (FGFR2) fusion gene, worsening after cancer chemotherapy. In Europe, Pemazyre is approved for the treatment of adults with locally advanced or metastatic cholangiocarcinoma with a fibroblast growth factor receptor 2 (FGFR2) fusion or rearrangement that have progressed after at least one prior line of systemic therapy. Pemazyre is a potent, selective, oral inhibitor of FGFR isoforms 1, 2 and 3 which, in preclinical studies, has demonstrated selective pharmacologic activity against cancer cells with FGFR alterations. Pemazyre is marketed by Incyte in the United States, Europe and Japan. Pemazyre is a trademark of Incyte. About Iclusig® (ponatinib) tablets Iclusig® (ponatinib) targets not only native BCR-ABL but also its isoforms that carry mutations that confer resistance to treatment, including the T315I mutation, which has been associated with resistance to other approved TKIs. In the EU, Iclusig is approved for the treatment of adult patients with chronic phase, accelerated phase or blast phase chronic myeloid leukemia (CML) who are resistant to dasatinib or nilotinib; who are intolerant to dasatinib or nilotinib and for whom subsequent treatment with imatinib is not clinically appropriate; or who have the T315I mutation, or the treatment of adult patients with Philadelphia-chromosome positive acute lymphoblastic leukemia (Ph+ ALL) who are resistant to dasatinib; who are intolerant to dasatinib and for whom subsequent treatment with imatinib is not clinically appropriate; or who have the T315I mutation. Click here to view the Iclusig EU Summary of Medicinal Product Characteristics. Incyte has an exclusive license from Takeda Pharmaceuticals International AG to commercialize ponatinib in the European Union and 29 other countries, including Switzerland, UK, Norway, Turkey, Israel and Russia. Iclusig is marketed in the U.S. by Millennium Pharmaceuticals, Inc., a wholly owned subsidiary of Takeda Pharmaceutical Company Limited. About Zynyz® (retifanlimab-dlwr) Zynyz® (retifanlimab) is an intravenous PD-1 inhibitor indicated in the U.S. for the treatment of adult patients with metastatic or recurrent locally advanced Merkel cell carcinoma (MCC). This indication is approved under accelerated approval based on tumor response rate and duration of response. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials. Zynyz is marketed by Incyte in the U.S. In 2017, Incyte entered into an exclusive collaboration and license agreement with MacroGenics, Inc. for global rights to retifanlimab. Zynyz is a trademark of Incyte. About Niktimvo™ (axatilimab-csfr) Niktimvo (axatilimab-csfr) is a first-in-class colony stimulating factor-1 receptor (CSF-1R)-blocking antibody approved for use in the U.S. for the treatment of chronic graft-versus-host disease (GVHD) after failure of at least two prior lines of systemic therapy in adult and pediatric patients weighing at least 40 kg (88.2 lbs). In 2016, Syndax licensed exclusive worldwide rights to develop and commercialize axatilimab from UCB. In September 2021, Syndax and Incyte entered into an exclusive worldwide co-development and co-commercialization license agreement for axatilimab in chronic GVHD and any future indications. Axatilimab is being studied in frontline combination trials in chronic GVHD – a Phase 2 combination trial with ruxolitinib (NCT06388564) and a Phase 3 combination trial with steroids (NCT06585774) are underway. Axatilimab is also being studied in an ongoing Phase 2 trial in patients with idiopathic pulmonary fibrosis (NCT06132256). Niktimvo is a trademark of Incyte. All other trademarks are the property of their respective owners. Forward-Looking Statements Except for the historical information set forth herein, the matters set forth in this release contain predictions, estimates and other forward-looking statements, including any discussion of the following: Incyte’s potential for continued performance and growth; Incyte’s ability to achieve both its full-year and long-term objectives; Incyte’s financial guidance for 2025, including its expectations regarding sales of and demand for Jakafi and Opzelura; expected revenue contribution from Niktimvo and additional near-term launches; the potential of povorcitinib to be a multibillion-dollar product; the possibility for 2025 to be a transformational year for Incyte in terms of launches, phase 3 study initiations, pivotal readouts and proof of concept readouts; Incyte’s potential to have more than 10 high impact launches by 2030; the potential and progress of programs in our pipeline; ongoing clinical trials and clinical trials that may be initiated; expectations regarding discussions with regulators, regulatory submissions and regulatory approvals; plans to present data at upcoming medical conferences; Incyte’s exposure to potential tariffs; and 2025 newsflow items. These forward-looking statements are based on Incyte’s current expectations and subject to risks and uncertainties that may cause actual results to differ materially, including unanticipated developments in and risks related to: further research and development and the results of clinical trials possibly being unsuccessful or insufficient to meet applicable regulatory standards or warrant continued development; the ability to enroll sufficient numbers of subjects in clinical trials and the ability to enroll subjects in accordance with planned schedules; determinations made by the FDA, EMA and other regulatory agencies; Incyte’s dependence on its relationships with and changes in the plans of its collaboration partners; the efficacy or safety of Incyte’s products and the products of Incyte’s collaboration partners; the acceptance of Incyte’s products and the products of Incyte’s collaboration partners in the marketplace; market competition; unexpected variations in the demand for Incyte’s products and the products of Incyte’s collaboration partners; the effects of announced or unexpected price regulation or limitations on reimbursement or coverage for Incyte’s products and the products of Incyte’s collaboration partners; sales, marketing, manufacturing and distribution requirements, including Incyte’s and its collaboration partners’ ability to successfully commercialize and build commercial infrastructure for newly approved products and any additional products that become approved; greater than expected expenses, including expenses relating to litigation or strategic activities; variations in foreign currency exchange rates; and other risks detailed in Incyte’s reports filed with the Securities and Exchange Commission, including its annual report on form 10-K for the year ended December 31, 2024. Incyte disclaims any intent or obligation to update these forward-looking statements. INCYTE CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in thousands, except per share amounts) Three Months Ended March 31, 2025 2024 GAAP Revenues: Product revenues, net $ 922,274 $ 729,923 Product royalty revenues 130,624 125,966 Milestone and contract revenues — 25,000 Total revenues 1,052,898 880,889 Costs, expenses and other: Cost of product revenues (including definite-lived intangible amortization) 73,188 60,956 Research and development 437,279 429,260 Selling, general and administrative 325,691 300,256 Loss (gain) on change in fair value of acquisition-related contingent consideration 11,572 (456 ) (Profit) and loss sharing under collaboration agreements — (1,025 ) Total costs, expenses and other 847,730 788,991 Income from operations 205,168 91,898 Interest income 22,929 46,770 Interest expense (660 ) (430 ) (Loss) gain on equity investments (1,343 ) 99,947 Other, net 8,096 (2,026 ) Income before provision for income taxes 234,190 236,159 Provision for income taxes 75,987 66,611 Net income $ 158,203 $ 169,548 Net income per share: Basic $ 0.82 $ 0.76 Diluted $ 0.80 $ 0.75 Shares used in computing net income per share: Basic 193,712 224,484 Diluted 198,197 227,219 INCYTE CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in thousands) March 31, 2025 December 31, 2024 ASSETS Cash, cash equivalents and marketable securities $ 2,408,658 $ 2,158,092 Accounts receivable 823,134 853,154 Property and equipment, net 765,359 763,411 Finance lease right-of-use assets, net 29,892 30,803 Inventory 429,286 407,199 Prepaid expenses and other assets 243,470 181,382 Equity investments 17,463 18,814 Other intangible assets, net 107,611 113,803 Goodwill 155,593 155,593 Deferred income tax asset 768,899 762,071 Total assets $ 5,749,365 $ 5,444,322 LIABILITIES AND STOCKHOLDERS’ EQUITY Accounts payable, accrued expenses and other liabilities $ 1,849,681 $ 1,765,733 Finance lease liabilities 37,121 37,961 Acquisition-related contingent consideration 195,000 193,000 Stockholders’ equity 3,667,563 3,447,628 Total liabilities and stockholders’ equity $ 5,749,365 $ 5,444,322 INCYTE CORPORATION RECONCILIATION OF GAAP NET (LOSS) INCOME TO SELECTED NON-GAAP ADJUSTED INFORMATION (unaudited, in thousands, except per share amounts) Three Months Ended March 31, 2025 2024 GAAP Net Income $ 158,203 $ 169,548 Adjustments1: Non-cash stock compensation from equity awards (R&D)2 36,724 36,792 Non-cash stock compensation from equity awards (SG&A)2 23,399 22,373 Non-cash stock compensation from equity awards (COGS)2 859 613 Non-cash interest3 82 108 Loss (gain) on equity investments4 1,343 (99,947 ) Amortization of acquired product rights5 5,384 5,384 Loss (gain) on change in fair value of contingent consideration6 11,572 (456 ) MorphoSys transition costs7 — 4,579 Escient acquisition related compensation expense8 535 — Tax effect of Non-GAAP pre-tax adjustments9 (8,642 ) (6,275 ) Non-GAAP Net Income $ 229,459 $ 132,719 Non-GAAP net income per share: Basic $ 1.18 $ 0.59 Diluted $ 1.16 $ 0.58 Shares used in computing Non-GAAP net income per share: Basic 193,712 224,484 Diluted 198,197 227,219 1 Included within the Milestone and contract revenues line item in the Condensed Consolidated Statements of Operations (in thousands) for the three months ended March 31, 2025 are milestones of $0 earned from our collaborative partners, as compared to $25,000 of milestones earned for the three months ended March 31, 2024. Included within the Research and development expenses line item in the Condensed Consolidated Statements of Operations (in thousands) for the three months ended March 31, 2025 and 2024 are upfront consideration and milestones of $15,500 and $1,000, respectively, related to our collaborative partners. 2 As included within the Cost of product revenues (including definite-lived intangible amortization) line item; the Research and development expenses line item; and the Selling, general and administrative expenses line item in the Condensed Consolidated Statements of Operations. 3 As included within the Interest expense line item in the Condensed Consolidated Statements of Operations. 4 As included within the (Loss) gain on equity investments line item in the Condensed Consolidated Statements of Operations. 5 As included within the Cost of product revenues (including definite-lived intangible amortization) line item in the Condensed Consolidated Statements of Operations. Acquired product rights of licensed intellectual property for Iclusig is amortized utilizing a straight-line method over the estimated useful life of 12.5 years. 6 As included within the Loss (gain) on change in fair value of acquisition-related contingent consideration line item in the Condensed Consolidated Statements of Operations. 7 Included within the Research and development line item in the Condensed Consolidated Statements of Operations (in thousands) is $4,031 for the three months ended March 31, 2024, and $548 is included within the Selling, general and administrative expenses line item in the Condensed Consolidated Statements of Operations (in thousands) for the three months ended March 31, 2024. MorphoSys transition costs primarily represent employee related costs to transition research and development and selling, general and administrative activities to us under the former collaboration agreement with MorphoSys. 8 Included within the Research and development line item in the Condensed Consolidated Statements of Operations (in thousands) is $535 for the three months ended March 31, 2025. Escient acquisition related compensation expense represents non-recurring charges associated with severance payments to former Escient employees. 9 Income tax effects of Non-GAAP pre-tax adjustments are calculated using an estimated annual effective tax rate, taking into consideration any permanent items and valuation allowances against related deferred tax assets. The Non-GAAP net income for the three months ended March 31, 2024 should have been $132,719 compared to the $145,269 previously disclosed to correct a transposition error in the tax effect of Non-GAAP pre-tax adjustments. For the three months ended March 31, 2024, the tax effect of Non-GAAP pre-tax adjustments should have been ($6,275) instead of $6,275. This correction is reflected in the table above.

In March 2025, the global pharmaceutical sector witnessed a surge of innovation where technology deeply integrates with clinical needs, spanning key areas such as gene therapy, antibiotic breakthroughs, targeted therapies for rare diseases, and vaccine upgrades. From Fitusiran (the world's first RNAi therapy for hemophilia) to Gepotidacin (a novel antibiotic combating drug-resistant strains), from Diazoxide Choline (the first targeted drug for Prader-Willi Syndrome) to the quadrivalent influenza vaccine (covering a broader range of viral subtypes), these new drugs not only break through the limitations of traditional treatments but also redefine disease management paradigms through precision targeting, broad-spectrum antiviral strategies, and the cost-effectiveness of biosimilars. 1. Fitusiran On March 28, 2025, Fitusiran received approval from the U.S. Food and Drug Administration (FDA) for the first time in the United States, becoming the first RNA interference (RNAi) drug to treat hemophilia A and B by inhibiting antithrombin (AT). This milestone marks a groundbreaking advancement of gene therapy technology in the field of blood disorders. The FDA's approval was based on its efficacy in significantly reducing bleeding events in clinical trials, supported by long-term safety data. In addition to the U.S., Fitusiran has also been granted priority review status by China's National Medical Products Administration (NMPA), accelerating its commercialization in key global markets. Developed by Alnylam Pharmaceuticals, Fitusiran's R&D journey exemplifies the deep collaboration of multinational pharmaceutical companies. Alnylam partnered strategically with Sanofi and its subsidiary Genzyme Corp. to jointly advance the drug's clinical trials, optimize production processes, and facilitate global registration. This collaboration leveraged Alnylam's expertise in RNAi technology and Sanofi's extensive experience in treating blood disorders. Moreover, during the R&D process, Fitusiran, due to its innovation in targeting a rare disease, successively received the FDA's "Fast Track" designation and "Orphan Drug" status, further highlighting its value in addressing unmet medical needs. Fitusiran specifically targets antithrombin mRNA via RNAi technology, blocking its translation process to reduce antithrombin levels (by approximately 80%-90%). Antithrombin, a key natural anticoagulant protein in the blood, can overly inhibit the activity of residual clotting factors (such as VIII or IX), exacerbating the bleeding tendency in hemophilia patients. By removing this inhibition, Fitusiran allows the residual clotting factors in patients to more effectively participate in hemostasis, significantly reducing spontaneous or traumatic bleeding events. Technically, the drug employs a GalNAc (N-acetylgalactosamine)-conjugated delivery system to precisely target the liver (the primary organ for antithrombin synthesis), combined with 2'-O-methylation and locked nucleic acid (LNA) chemical modifications to enhance stability, reduce off-target effects, and minimize immunogenicity, achieving a long-acting treatment with monthly subcutaneous injections. In addition to the U.S. and China, Fitusiran is also in the accelerated review stage in major markets such as the EU and Japan, with an expectation to cover major global regions by the end of 2025. Its differentiated advantages—eliminating the need for frequent clotting factor infusions, applicable to all hemophilia subtypes and inhibitor patients—make it a significant complement to existing therapies (such as factor replacement therapy and the anticoagulant Emicizumab). Furthermore, the R&D team is exploring the potential applications of Fitusiran in a broader range of indications, including von Willebrand disease, perioperative clotting management, and prevention of bleeding risks following trauma or surgery, further expanding its clinical value. 2.Technetium Tc 99m Trofolastat Technetium Tc 99m Trofolastat is an innovative diagnostic radiopharmaceutical belonging to the category of radionuclide-conjugated drugs, primarily used for imaging diagnosis of prostate-specific membrane antigen (PSMA)-positive prostate cancer. The drug precisely labels tumor lesions by binding to PSMA, a protein highly expressed on the surface of prostate cancer cells, aiding doctors in locating primary tumors, assessing metastatic distribution, and monitoring treatment responses. Its core advantage lies in the use of the radioactive isotope technetium-99m (Tc-99m), which has a short half-life (approximately 6 hours) and high imaging sensitivity, providing clear tumor images while ensuring patient safety. On March 27, 2025, the drug was first approved in the UK, becoming the world's first radiopharmaceutical diagnostic agent based on PSMA-targeting technology, marking a significant breakthrough in prostate cancer imaging diagnostics. The mechanism of action of Trofolastat is based on the targeting of PSMA. PSMA is a membrane protein overexpressed on the surface of prostate cancer cells, particularly in metastatic or recurrent tumors. The drug specifically binds to PSMA through its chemical structure, then conjugates with Tc-99m to form a radioactive tracer. After intravenous injection into the body, PSMA-positive tumor cells take up and accumulate the drug, generating high-resolution tumor distribution maps through gamma camera imaging. Compared to traditional imaging techniques (such as CT or MRI), Trofolastat can detect PSMA-positive lesions earlier and more sensitively, especially in the assessment of bone metastases or lymph node metastases. Its short half-life reduces patient radiation exposure risks, and the widespread global availability of Tc-99m (due to its mature infrastructure) further enhances the convenience of clinical application. The drug was led in development by Progenics Pharmaceuticals, Inc., with its R&D journey exemplifying the synergistic effects of multi-party collaboration. Progenics initially discovered the targeting potential of PSMA and designed the molecular structure of Trofolastat. Subsequently, Lantheus Medical Imaging, Inc. (now part of Bracco Imaging) became a key partner, responsible for optimizing drug production, global registration, and commercial promotion, especially in the European and American markets. Additionally, the R&D team leveraged Progenics' technical accumulation in the PSMA field (such as the development experience of the therapeutic drug 177Lu-PSMA-617) to further validate the feasibility of PSMA targeting in diagnostics. Despite Progenics' acquisition by Bracco in 2023, the R&D team continued to optimize drug performance, ultimately leading to its first approval in the UK, filling the gap in PSMA-targeted diagnostic drugs. The R&D progress of Trofolastat has been rapid, entering Phase III clinical trials by 2025 and validating its diagnostic accuracy through key trials. On March 27, 2025, the UK Medicines and Healthcare products Regulatory Agency (MHRA) approved it for the diagnosis of PSMA-positive prostate cancer, making it the first PSMA-targeted radiopharmaceutical diagnostic agent approved in Europe. The current indication focuses on the localization and staging of PSMA-positive prostate cancer, with potential future expansion to monitoring the recurrence of metastatic prostate cancer and assessing treatment effectiveness. Although similar drugs (such as Ga-68 PSMA-11) have been approved in the U.S., Trofolastat's widespread availability of Tc-99m (used in 90% of global nuclear medicine imaging) and longer imaging window (suitable for primary care hospitals) demonstrate significant market competitiveness. 3.Diazoxide Choline Diazoxide Choline (brand name: VYKAT XR) is a small-molecule chemical drug that acts as a potassium channel agonist, reducing appetite by modulating the function of potassium ion channels in cell membranes. Developed by Essentialis, Inc. and subsequently advanced to the clinical stage by Soleno Therapeutics, Inc., it was first approved in the United States on March 26, 2025, for the treatment of hyperphagia and Prader-Willi Syndrome (PWS). PWS is a genetic disorder where patients often experience extreme hunger and an increased risk of obesity due to hypothalamic dysfunction. Diazoxide Choline, by targeting the appetite regulation center, becomes the first drug to address the core pathological mechanisms of this disease. Its extended-release formulation (VYKAT XR) is designed to allow once-daily dosing, significantly improving patient adherence. The mechanism of action of Diazoxide Choline is based on the activation of potassium ions (K⁺) channels. The drug activates ATP-sensitive potassium channels (KATP), inhibiting the secretion of glucagon by pancreatic α-cells while modulating the hypothalamic appetite regulation pathway to reduce hunger and suppress binge eating behavior. In patients with Prader-Willi Syndrome, hypothalamic dysfunction leads to abnormally elevated ghrelin levels and defective leptin signaling, exacerbating uncontrolled appetite. Diazoxide Choline restores the hypothalamus's regulation of energy balance through potassium channel-mediated signaling pathways, thereby reducing the impulse to overeat. Additionally, the drug has no significant impact on insulin secretion, reducing the risk of side effects such as hypoglycemia and ensuring higher safety. The drug's development began with Essentialis, Inc., and was later taken over by Soleno Therapeutics to advance it to the clinical stage. During the R&D process, Diazoxide Choline received several special review designations from the FDA, including Fast Track status, Breakthrough Therapy designation, and Orphan Drug status (both in the U.S. and EU), highlighting its importance in treating the rare disease PWS. Additionally, the drug underwent priority review by the FDA, accelerating the approval process. Although initially explored for indications such as hypertriglyceridemia, its breakthrough efficacy in PWS became the core R&D direction. Phase III clinical trial data showed that Diazoxide Choline significantly reduced binge eating behavior, weight gain, and hospitalization rates in PWS patients. In the trial, patients receiving treatment experienced a reduction in hunger scores by over 50%, with no serious drug-related adverse events reported. After its first approval in March 2025, the indication focused on hyperphagia and Prader-Willi Syndrome, with potential future expansion to other hypothalamic dysfunction-related appetite disorders. Additionally, the R&D team is exploring its potential to improve cognitive function and behavioral symptoms in PWS patients, further enhancing the drug's comprehensive therapeutic value. 4. Suraxavir Marboxil Suraxavir Marboxil is a novel small-molecule antiviral drug jointly developed by Ginkgo Pharmaceutical in collaboration with Kerui and Qingfeng Pharmaceutical. It was approved for marketing in China on March 25, 2025, becoming the first broad-spectrum anti-influenza drug targeting both influenza A and B virus infections. Its mechanism of action involves targeting key proteins of the influenza virus (presumably neuraminidase or related targets), thereby inhibiting viral replication and release. This mechanism helps to shorten the duration of illness and reduce the risk of severe complications. The approval of Suraxavir Marboxil fills a critical gap in China's broad-spectrum anti-influenza drug market and holds significant value in addressing seasonal flu outbreaks and potential pandemic threats. Its formulation (likely oral) and convenient administration make it a valuable tool for influenza treatment and prevention. Suraxavir Marboxil’s antiviral mechanism is based on the inhibition of essential viral proteins. Influenza viruses rely on neuraminidase (NA) to release newly formed viral particles from host cells. This drug is believed to bind selectively and inhibit the activity of neuraminidase, thus preventing viral spread. Compared to traditional neuraminidase inhibitors (such as oseltamivir), Suraxavir Marboxil may offer broader antiviral coverage against both influenza A and B, whereas traditional drugs typically focus on influenza A. Additionally, its molecular structure has likely been optimized to enhance efficacy against drug-resistant strains and minimize side effects. Preclinical studies have demonstrated its rapid onset, strong antiviral activity, and low toxicity in both in vitro and animal models. Clinical trial data show that Suraxavir Marboxil significantly outperforms placebo in reducing the duration of influenza symptoms and lowering the incidence of complications (such as pneumonia), with proven efficacy against both influenza A and B viruses. It has exhibited a favorable safety profile, with no reports of serious drug-related adverse events, making it suitable for children, adults, and the elderly. The current approved indication focuses on influenza A and B infections, with potential future expansion to prophylactic use in high-risk populations (e.g., immunocompromised individuals or patients with chronic illnesses). Moreover, the development team is exploring its applicability in patients with impaired liver function to expand its coverage across broader patient populations. 5. Gepotidacin Gepotidacin is a novel small-molecule antibiotic developed by GlaxoSmithKline (GSK), which received its first approval in the United States on March 25, 2025. It is indicated for the treatment of bacterial infections caused by susceptible organisms, including urinary tract infections (such as acute cystitis and gonococcal urethritis). Gepotidacin features a unique mechanism of action—dual inhibition of bacterial DNA gyrase and topoisomerase IV—which blocks bacterial DNA replication and repair, thereby rapidly eliminating pathogens. As the first approved antibiotic in the triazolopyrimidine class, Gepotidacin addresses treatment gaps caused by antibiotic resistance to traditional fluoroquinolones, especially against resistant Gram-positive and Gram-negative pathogens. Unlike conventional fluoroquinolones (e.g., levofloxacin), Gepotidacin targets both DNA gyrase (primarily in Gram-negative bacteria) and topoisomerase IV (primarily in Gram-positive bacteria), providing broad-spectrum antibacterial activity. This dual-targeted mechanism significantly reduces the risk of resistance, as bacteria must simultaneously mutate both targets to develop resistance—an event with very low probability. Preclinical studies have shown that Gepotidacin is active against multidrug-resistant organisms (such as ESBL-producing E. coli and MRSA) and lacks cross-resistance with existing antibiotics, offering a promising option for resistant infections. Its rapid bactericidal activity—reducing bacterial load within hours—also shortens the course of infection compared to traditional antibiotics. Gepotidacin's development was driven by GSK’s urgent need for novel antibiotics to address the global antibiotic resistance crisis. While no special regulatory designations (e.g., FDA Fast Track or Orphan Drug status) have been mentioned, its timely approval in 2025 was supported by positive Phase III clinical trial data and the FDA’s commitment to fostering innovation in anti-infective drug development. GSK advanced clinical trials in collaboration with global partners (e.g., Atos SE in Europe), evaluating its potential in treating complex infections, such as complicated skin and soft tissue infections. Furthermore, the drug’s oral formulation and favorable tolerability profile (with fewer gastrointestinal side effects) enhance its clinical utility. Phase III trial results indicated that Gepotidacin's efficacy in treating acute bacterial cystitis was comparable to that of levofloxacin, with better tolerability. Although its current approved indication focuses on urinary tract infections, its broad-spectrum activity suggests potential future use in complicated urinary tract infections, gonorrhea, and skin and soft tissue infections. GSK is also investigating its use in treating multidrug-resistant infections—such as carbapenem-resistant Enterobacteriaceae (CRE)—to address the growing challenge of nosocomial infections. In the future, Gepotidacin could become the preferred alternative to traditional fluoroquinolones, particularly in regions with high rates of antibiotic resistance. 6. Encofosbuvir Encofosbuvir is a novel small-molecule direct-acting antiviral (DAA) developed jointly by Sunshine Lake Pharma and YiChang HEC ChangJiang Pharmaceutical. On March 25, 2025, it was approved in China as the first domestically produced pan-genotypic treatment for hepatitis C, indicated for the treatment of chronic hepatitis C virus (HCV) infection. The drug targets a key step in the HCV lifecycle, exerting potent antiviral effects by inhibiting viral RNA replication. Encofosbuvir specifically targets the HCV NS5B RNA-dependent RNA polymerase, a core enzyme involved in viral replication. By competitively binding to the active site of NS5B polymerase, it inhibits the elongation of viral RNA chains, thereby blocking viral RNA synthesis and assembly. As a nucleotide analog prodrug, Encofosbuvir is metabolized in vivo into its active form, which is incorporated into the viral RNA chain, resulting in premature chain termination and complete suppression of viral replication. Its pan-genotypic activity stems from its broad inhibitory effect across all major HCV genotypes (1–6), and it retains efficacy against common resistance-associated substitutions (e.g., Y93H). Compared to traditional interferon-based regimens, Encofosbuvir offers a significantly higher sustained virologic response (SVR) rate and lower resistance barrier, greatly improving treatment success while reducing adverse effects. Encofosbuvir was developed from Sunshine Lake Pharma’s antiviral drug platform, with clinical development and manufacturing supported by Humanwell Healthcare. During its development, the team optimized the drug design to align with the epidemiological characteristics of hepatitis C in China (primarily genotype 1b), and efficacy and safety were validated through multicenter Phase III clinical trials. Although no special review designations were noted, the drug’s swift approval in 2025 reflects regulatory support for domestic innovation in China. Clinical trials demonstrated that Encofosbuvir, either as monotherapy or in combination with ribavirin (RBV), achieved SVR12 rates exceeding 95% in patients with chronic hepatitis C, including those with cirrhosis. It showed a favorable safety profile, with common adverse events limited to mild fatigue or headache and no reports of serious hepatotoxicity or hematological toxicity. Currently approved for pan-genotypic chronic hepatitis C, future indications may include acute HCV infection and post-liver transplantation recurrence. Additionally, fixed-dose combinations with novel antivirals, such as NS3/4A protease inhibitors, are under exploration to further simplify treatment regimens and enhance adherence. The launch of Encofosbuvir not only provides Chinese hepatitis C patients with a cost-effective therapeutic option but also represents a major milestone in the localization of global antiviral drug development. Its pan-genotypic coverage and short-course regimen can significantly improve treatment accessibility, particularly in regions with limited healthcare resources. With its broader application, China is well-positioned to accelerate progress toward the World Health Organization (WHO)’s goal of eliminating viral hepatitis as a public health threat by 2030. Moreover, the successful development of Encofosbuvir offers technical insights for antiviral drug development targeting other RNA viruses such as hepatitis B and HIV, highlighting China's growing innovation capacity in the antiviral therapeutics sector. 7. Influenza Vaccine (Split Virion, Quadrivalent) The Influenza Vaccine (split virion, quadrivalent), developed by Anhui Longcom Biologic Pharmacy, is a multivalent prophylactic vaccine approved in China on March 18, 2025, for the prevention of influenza virus infection. Utilizing a virus-splitting technique, the vaccine separates influenza viruses into key antigenic components (such as hemagglutinin and neuraminidase), removes viral nucleic acids, and retains immunogenic elements to stimulate an immune response. It induces antibody production against influenza A subtypes H1N1 and H3N2, as well as B lineages Victoria and Yamagata. As a quadrivalent formulation, it offers broader coverage than trivalent vaccines, effectively addressing the high mutation rates of circulating influenza strains, particularly the predominant seasonal strains. Its approval fills a market gap for high-end domestically produced influenza vaccines in China, providing an affordable and effective option for seasonal influenza prevention. The vaccine's mechanism of action involves antigen presentation and activation of humoral immunity. The split virion fragments, especially hemagglutinin proteins, are recognized by the immune system and presented by dendritic cells to T lymphocytes, which in turn activate B cells to produce specific IgG antibodies. These antibodies bind to hemagglutinin on the virus surface, blocking receptor binding to host cells and marking viral particles for macrophage clearance. The vaccine also induces immune memory, offering long-term protection and reducing the risk of reinfection. The quadrivalent design, covering two A and two B influenza strains, significantly enhances cross-protection against variant strains, particularly in high-risk populations such as children, the elderly, and individuals with chronic illnesses. The splitting process ensures vaccine safety by eliminating the risk of infection associated with whole-virus vaccines, while preserving antigenic epitopes for robust immune responses. Due to the segmented genome structure of influenza viruses, frequent mutations occur annually, leading to hundreds of millions of global infections and hundreds of thousands of deaths. As a populous nation, China faces considerable challenges in influenza control. The mismatch between the traditional vaccine development cycle (approximately 6–8 months) and the rapid mutation rate of the virus highlights the urgent need for broad-spectrum, efficient vaccines. Anhui Longcom Biologic Pharmacy's quadrivalent influenza vaccine was developed in alignment with China's influenza epidemiology. By dynamically monitoring strain variations and selecting WHO-recommended dominant strains for seasonal formulation, the vaccine ensures optimal protection. Clinical trial data show that the vaccine achieves a seroprotection rate (antibody titer ≥40) exceeding 90% in both adults and children, providing significant protection against covered influenza strains. Reported adverse reactions are mostly mild, including injection site pain and low-grade fever, with no reports of severe allergic events. The current approved indication is prevention of influenza virus infection for individuals aged six months and older, with strong recommendations for high-risk groups such as healthcare workers, the elderly, and people with chronic conditions. Future directions may include emergency use during outbreaks of specific variant strains, or co-administration with COVID-19 vaccines to address co-infection risks. Additionally, the development team is investigating the vaccine's immunogenicity in immunocompromised patients to optimize vaccination strategies. 8. Ivarmacitinib Sulfate Ivarmacitinib sulfate is a selective Janus kinase (JAK) inhibitor jointly developed by Jiangsu Hengrui Pharmaceuticals and Reistone Biopharma. It was approved for marketing in China on March 18, 2025, for the treatment of ankylosing spondylitis. The drug functions by targeting and inhibiting JAK kinases and their downstream signaling pathways, thereby blocking the transmission of pro-inflammatory cytokines such as IL-6 and IL-23. This suppression mitigates the inflammatory responses triggered by excessive immune system activation. As the first domestically developed JAK inhibitor in China, Ivarmacitinib received accelerated approval through “breakthrough therapy” designation, addressing a significant unmet need in targeted therapy for ankylosing spondylitis. It offers a novel treatment option, especially for patients who are unresponsive or intolerant to traditional therapies like TNF-α inhibitors. The drug is also being investigated for other autoimmune conditions such as atopic dermatitis, alopecia areata, and ulcerative colitis, demonstrating broad clinical potential. The mechanism of action of Ivarmacitinib centers on inhibition of the JAK-STAT signaling pathway. JAK kinases are key mediators in cytokine signaling (e.g., IL-6, IL-17, IL-23), which are overexpressed in inflammatory autoimmune diseases such as ankylosing spondylitis and psoriatic arthritis. By selectively inhibiting JAK1/3 isoforms, Ivarmacitinib blocks signal transduction following cytokine-receptor binding, reduces the release of pro-inflammatory cytokines, and alleviates joint inflammation, skin damage, and systemic immune responses. During development, the research team optimized the molecular structure to enhance isoform selectivity, reduce off-target effects, and improve oral bioavailability, making it suitable for long-term treatment. As a domestically developed innovative drug, Ivarmacitinib responds to the urgent demand for effective and safe targeted therapies for autoimmune diseases. Supported by Hengrui’s robust R&D capabilities, the drug was rapidly translated from laboratory research to clinical application. Phase III clinical trial results showed that Ivarmacitinib significantly improved joint pain, morning stiffness, and functional impairment in patients with ankylosing spondylitis, with a favorable safety profile (the main adverse effects being mild elevation of liver enzymes and headache). Its currently approved indication is ankylosing spondylitis, with potential future indications including moderate-to-severe atopic dermatitis (now in Phase III), alopecia areata (Phase II data showing >50% hair regrowth rate), and ulcerative colitis. The research team is also exploring its efficacy in psoriatic arthritis and non-segmental vitiligo, aiming for integrated management of multisystem diseases through immune modulation. Notably, after early collaboration with Arcutis Biotherapeutics ended, Hengrui continued clinical development independently, underscoring its leadership in domestic innovation. Compared with existing JAK inhibitors, Ivarmacitinib offers several differentiating advantages: ·Higher JAK isoform selectivity, minimizing inhibition of JAK2 (which is involved in hematopoiesis) and thereby reducing risks of thrombosis and anemia; ·Longer half-life (~24 hours), allowing for once-daily dosing and improved patient adherence; ·Localized anti-inflammatory effect, targeting affected tissues (e.g., skin, joints) while minimizing systemic immunosuppressive side effects.These features make Ivarmacitinib particularly competitive in balancing efficacy and safety, especially in the long-term management of chronic inflammatory diseases. 9. Teprotumumab N01 Teprotumumab N01 is a monoclonal antibody targeting the insulin-like growth factor-1 receptor (IGF-1R), independently developed by Innovent Biologics. It was approved in China on March 11, 2025, for the treatment of moderate-to-severe Graves' ophthalmopathy (GO). By inhibiting the IGF-1R signaling pathway, the drug reduces orbital inflammation, fibrosis, and muscle edema, thereby improving symptoms such as proptosis, diplopia, and visual impairment. Graves' ophthalmopathy is an autoimmune thyroid-associated eye disease characterized by the activation of the IGF-1/IGF-1R pathway, which triggers downstream signaling cascades (e.g., PI3K/Akt/mTOR), leading to orbital fibroblast proliferation, collagen deposition, and cytokine release. Teprotumumab N01 binds with high affinity to the α-subunit of IGF-1R, blocking the activation of the IGF-1 pathway, suppressing fibroblast activation and inflammation, and reducing orbital tissue swelling and fibrosis. The research team enhanced the drug’s specificity and safety by optimizing the antibody structure, including modifications to the Fc region to reduce immunogenicity. Approval was based on strong Phase III trial results: compared to placebo, patients receiving Teprotumumab experienced an average reduction of 3.3 mm in proptosis (P<0.001), and 80% showed symptom improvement (e.g., reduced diplopia, stabilized vision). Adverse events were primarily mild injection site reactions. Teprotumumab N01 is indicated for patients with moderate-to-severe active Graves' ophthalmopathy (e.g., Clinical Activity Score ≥3) who are either intolerant or unresponsive to corticosteroids. Its differentiated advantages are threefold: 1.Precision targeting of the IGF-1R pathway: Specifically blocks IGF-1R activation, directly inhibiting abnormal proliferation of orbital fibroblasts and associated inflammation, thus reducing fibrosis and edema. This avoids systemic side effects of corticosteroids, such as osteoporosis, blood glucose fluctuations, and immunosuppression. 2.Robust and sustained efficacy: Phase III data showed a 3.3 mm average reduction in proptosis after six months, with marked improvement in diplopia and orbital pressure. These benefits were maintained over a 12-month follow-up period and significantly outperformed placebo. 3.Good safety and convenient administration: No severe immune-related adverse events (e.g., neutropenia or liver enzyme abnormalities) were observed; only mild injection site reactions occurred. The drug is administered via intravenous infusion, suitable for outpatient treatment and enhancing patient adherence. Looking forward, Teprotumumab N01 may be used preventatively in early or mild GO to delay disease progression and could be explored in combination with radiotherapy or surgery to optimize outcomes in severe cases. This would further expand its clinical value. The approval of Teprotumumab N01 marks a breakthrough in targeted therapy for rare diseases in China. Its development process—from antibody screening to clinical validation—demonstrates Innovent’s comprehensive capabilities in biologic innovation. Currently, the only similar product worldwide is Lilly’s Teprotumumab, approved by the U.S. FDA in 2019. However, Teprotumumab N01, through differentiated design (e.g., longer half-life enabling dosing every three weeks) and localized clinical data, significantly reduces treatment costs and benefits more Chinese patients. Furthermore, its development model provides a reference for targeted therapies in other autoimmune-related ophthalmic diseases (e.g., dry eye disease associated with Sjögren’s syndrome), enhancing China’s global competitiveness in ophthalmologic biologics. 4o 10. Denosumab-bnhtDenosumab-bnht is a biosimilar of denosumab developed by Germany-based Fresenius Kabi, approved in the United States on March 25, 2025, for the treatment of various skeletal-related disorders. As a monoclonal antibody biosimilar, it functions by targeting and inhibiting the receptor activator of nuclear factor kappa-Β ligand (RANKL), mirroring the mechanism of the reference product. By optimizing the manufacturing process, it offers a more cost-effective treatment option for patients. Structurally, functionally, and in terms of safety and efficacy, Denosumab-bnht is highly consistent with the originator drug, and is indicated for conditions such as osteoporosis, giant cell tumor of bone (GCTB), glucocorticoid-induced osteoporosis, hypercalcemia of malignancy, and multiple myeloma, particularly in cases of bone density loss or skeletal damage caused by abnormal bone metabolism. The drug works by blocking the interaction between RANKL and its receptor RANK on the surface of osteoclast precursors and mature osteoclasts. This inhibition suppresses the differentiation, activity, and survival of osteoclasts, thereby reducing bone resorption and maintaining bone density. This mechanism significantly lowers fracture risk in osteoporosis patients, particularly postmenopausal women and cancer patients at risk of bone metastases. Moreover, by modulating bone metabolism, it helps manage the progression of GCTB and alleviate tumor-related bone destruction and pain. As a biosimilar, Denosumab-bnht demonstrates equivalence to the originator in pharmacokinetics, immunogenicity, and clinical efficacy, while simplified manufacturing enhances accessibility. In clinical practice, Denosumab-bnht has broad indications: for osteoporosis, a subcutaneous injection every six months significantly improves patient compliance and reduces the risk of vertebral, non-vertebral, and hip fractures; in GCTB, it can reduce tumor size and relieve bone pain; for emergency treatment of malignancy-associated hypercalcemia, a single injection rapidly lowers serum calcium levels and improves prognosis. Additionally, the drug can prevent skeletal-related fractures in patients with multiple myeloma or solid tumors and reduce the need for radiation therapy. Phase III clinical trials have shown no statistically significant difference in efficacy compared to the originator, with a favorable safety profile. Common adverse reactions include injection site reactions and hypocalcemia, while severe allergic reactions are rare. From a development and market positioning perspective, Denosumab-bnht followed a rigorous biosimilar development pathway, including structural characterization, animal studies, and clinical comparison trials to ensure interchangeability with the reference product. Fresenius Kabi, leveraging its experience in the biosimilar field, optimized antibody production to reduce costs and provide a cost-effective option for both patients and healthcare systems. Its approval marks further expansion of biosimilars in the treatment of skeletal disorders, and in the U.S. market, its pricing advantage is expected to accelerate substitution of the originator drug, offering critical therapeutic opportunities for underserved populations, including those in developing countries. 11. Liraglutide BiosimilarThe liraglutide biosimilar developed by Zhuhai United Pharmaceutical is the first GLP-1 receptor agonist biosimilar approved in China. It was granted market approval on March 18, 2025, for the treatment of type 2 diabetes. Jointly developed by Zhuhai United Pharmaceutical and its subsidiaries, this product contains liraglutide, a recombinant glucagon-like peptide-1 (GLP-1) analog highly homologous to human GLP-1, which lowers blood glucose by mimicking endogenous GLP-1's physiological effects. As a biosimilar, it exhibits high structural, functional, safety, and efficacy similarity to the reference drug (Novo Nordisk’s Victoza), while optimized production processes and cost control provide a more affordable treatment option—particularly beneficial for China's large type 2 diabetes population. The mechanism of action centers on GLP-1 receptor activation: it stimulates glucose-dependent insulin secretion from pancreatic β-cells, suppresses glucagon secretion from α-cells to reduce hepatic glucose output, delays gastric emptying, and increases satiety, thereby lowering both blood glucose levels and body weight. With a half-life of 12–14 hours, it supports once-daily subcutaneous administration. Its fatty acid side chain modification reduces immunogenicity and lowers the risk of allergic reactions. These characteristics result in comprehensive benefits for glycemic control, cardiovascular protection, and weight management, making it suitable for patients inadequately managed by oral antidiabetic drugs or those with insulin resistance. Clinically, the liraglutide biosimilar offers multiple advantages in managing type 2 diabetes. Phase III clinical trials showed no statistically significant difference in HbA1c reduction compared to the originator drug, with average reductions ranging from 1.5% to 2.0%, and significantly lower risk of hypoglycemia due to its glucose-dependent mechanism. In addition, it promotes weight loss (average reduction of 3%–5%) and offers cardiovascular benefits by improving lipid profiles and slowing the progression of atherosclerosis. Regarding safety, the most common adverse events are mild gastrointestinal reactions (e.g., nausea, diarrhea), which tend to decrease over time; no serious immunogenic events were observed. Looking ahead, the clinical use of this biosimilar may expand to other metabolic syndrome-related conditions, such as obesity and non-alcoholic fatty liver disease (NAFLD). Long-term cardiovascular benefits observed in the originator drug’s post-marketing studies could also support its positioning as a preferred option for diabetic patients with elevated cardiovascular risk. Conclusion The global drug approvals in March 2025 highlight three trends in biomedicine: the clinical translation of gene and RNA therapies, breakthroughs in antibiotics and antivirals, and the broader accessibility of biosimilars and vaccines. In gene therapy, Fitusiran became the world’s first RNAi treatment to offer once-monthly management for hemophilia by suppressing antithrombin. Novel treatments such as Teprotumumab N01 (an IGF-1R monoclonal antibody) and Encofosbuvir (a pan-genotypic DAA for hepatitis C) target precise signaling pathways or viral replication mechanisms, offering breakthroughs for rare diseases and chronic infections. In the antibiotic field, Suraxavir Marboxil emerged as a novel weapon against resistant bacteria by dual inhibition of DNA enzymes, while Mashurashave, China’s first broad-spectrum influenza drug, addressed resistance and treatment complexity with its single-dose regimen. On the public health front, Denosumab-bnht and the liraglutide biosimilar enhance treatment accessibility for osteoporosis and diabetes through cost reductions. Meanwhile, quadrivalent influenza vaccines employing split-virus technology improve coverage against multiple viral subtypes, strengthening public health preparedness. The approvals of Diazoxide Choline (for Prader-Willi syndrome) and Ivarmacitinib (a JAK inhibitor for ankylosing spondylitis) further extend the application of targeted therapies in metabolic and autoimmune disorders. Finally, the innovation and global partnerships of Chinese pharmaceutical companies—such as Hengrui and Innovent Biologics—are accelerating the integration of global R&D resources. How to obtain the latest research advancements in the field of biopharmaceuticals? In the Synapse database, you can keep abreast of the latest research and development advances in drugs, targets, indications, organizations, etc., anywhere and anytime, on a daily or weekly basis. Click on the image below to embark on a brand new journey of drug discovery!

RINVOQ is the first and only oral Janus kinase (JAK) inhibitor approved in the European Union (EU) to treat adult patients with giant cell arteritis (GCA) The approval is supported by data from the pivotal Phase 3 SELECT-GCA trial which demonstrated that RINVOQ achieved the primary endpoint of sustained remission* and key secondary endpoints, including reduction in disease flares, lower cumulative steroid exposure and complete remission †1 This marks the eighth approved indication for RINVOQ in the EU2 NORTH CHICAGO, Ill., April 8, 2025 /PRNewswire/ -- AbbVie (NYSE: ABBV) today announced that the European Commission (EC) granted marketing authorization to RINVOQ® (upadacitinib; 15 mg, once daily) for the treatment of giant cell arteritis (GCA) in adult patients. RINVOQ is the first and only oral JAK inhibitor approved in the EU, as well as Iceland, Liechtenstein and Norway, for the treatment of adult patients with GCA. "GCA is a challenging and often debilitating condition. Patients may endure headaches, jaw pain and muscle aches, with many fearing sudden and permanent vision loss,"3 said Prof. Dr. med. Wolfgang Schmidt, M.D., MACR, Waldfriede Hospital, Department of Rheumatology, Berlin, Germany, and SELECT-GCA trial investigator. "Results from the SELECT-GCA trial show that patients can achieve sustained remission and reduce their cumulative steroid exposure with RINVOQ, addressing important patient goals in the treatment of GCA." GCA is an autoimmune disease that causes inflammation of the temporal and other cranial arteries, the aorta, and other large and medium arteries. GCA generally impacts patients older than 50 years, most commonly between the ages of 70 and 80 years.3 "The EC approval of RINVOQ in GCA provides patients and physicians with a new treatment option and the first oral advanced therapy for adults living with GCA – a particularly vulnerable population due to older age and frequent comorbidities,"3,4 said Roopal Thakkar, M.D., executive vice president, research & development, chief scientific officer, AbbVie. "This exciting milestone demonstrates our commitment to ongoing research and expanding indications in areas of high unmet need to help patients achieve better outcomes, including sustained disease remission." The EC approval is supported by data from the Phase 3 SELECT-GCA trial, which was recently published in the New England Journal of Medicine.1 In this trial, primary and key secondary endpoints were achieved with RINVOQ 15 mg and a 26-week steroid taper regimen compared to placebo in combination with a 52-week steroid taper regimen.1 Primary endpoint results from the Phase 3 SELECT-GCA trial demonstrated: Sustained remission*: 46.4% of patients receiving RINVOQ 15 mg in combination with a 26-week steroid taper regimen achieved sustained remission at week 52, compared with 29.0% of patients receiving placebo in combination with a 52-week steroid taper regimen (p=0.002).1 Key secondary endpoints included: Reduction in disease flares: 34.3% of patients receiving RINVOQ 15 mg in combination with a 26-week steroid taper regimen experienced at least one disease flare through week 52 versus 55.6% of patients receiving placebo in combination with a 52-week steroid taper regimen (p=0.001).1 Lower cumulative steroid exposure: Through 52 weeks, cumulative steroid exposure was significantly lower for patients receiving RINVOQ 15 mg in combination with a 26-week steroid taper regimen than for patients receiving placebo in combination with a 52-week steroid taper regimen (median exposure of 1615 mg versus 2882 mg, respectively; p<0.001).1 Sustained complete remission†: 37.1% of patients receiving RINVOQ 15 mg in combination with a 26-week steroid taper regimen achieved sustained complete remission through week 52, compared with 16.1% of patients receiving placebo in combination with a 52-week steroid taper regimen (p<0.001).1 During the 52-week, placebo-controlled period, the safety profile of RINVOQ was generally consistent with that observed in other approved indications.2 Similar rates of serious adverse events were observed in patients receiving RINVOQ 15 mg and in those receiving placebo.1 Serious infections occurred in 5.7% of the RINVOQ 15 mg group and 10.7% of the placebo group.1 The proportions of patients with events of interest were balanced across treatment groups for incidence of malignancy (excluding nonmelanoma skin cancer; 1.9% in the RINVOQ 15 mg group vs 1.8% in the placebo group) and venous thromboembolism (3.3% in the RINVOQ 15 mg group vs 3.6% in the placebo group).1 There were no adjudicated major adverse cardiac events (MACEs) in the RINVOQ 15 mg group, compared with two events in the placebo group.1 Four treatment-emergent deaths were reported, two in the placebo group and two in the RINVOQ 15 mg group. Of the two treatment-emergent deaths in the RINVOQ 15 mg group, one was attributed to COVID-19 and the other was adjudicated as an unexplained cause.1 RINVOQ is approved in the EU for the treatment of adults with radiographic axial spondylarthritis, nonradiographic axial spondylarthritis, psoriatic arthritis, rheumatoid arthritis, ulcerative colitis, Crohn's disease, adults and adolescents with atopic dermatitis, and now adults with GCA.2 *Sustained remission is defined as having an absence of GCA signs and symptoms from week 12 through week 52 and adherence to the protocol-defined steroid taper over the course of the study term.1 †Sustained complete remission is defined as having an absence of GCA signs and symptoms from week 12 through week 52, adherence to the protocol-defined steroid taper, and normalization of both erythrocyte sedimentation rate and high-sensitivity C-reactive protein from week 12 through week 52.1 About Giant Cell Arteritis Giant cell arteritis (GCA), also known as temporal arteritis, is an autoimmune disease of medium and large arteries, characterized by granulomatous inflammation of the three-layered vessel wall, which affects temporal and other cranial arteries as well as the aorta and other large arteries.3,5 GCA can cause headache, jaw pain, and changes in or loss of vision, including sudden and permanent loss of vision.3 It is the most common vasculitis affecting adults in western countries.3 White women over the age of 50 – most commonly between the ages of 70 and 80 years – have the highest risk of developing GCA. Although women are more likely than men to develop GCA, research suggests that men are more likely to have ocular manifestations with their disease.6 About SELECT-GCA SELECT-GCA (M16-852) is a Phase 3, multicenter, randomized, double-blind placebo-controlled study designed to evaluate the safety and efficacy of upadacitinib in 428 patients with GCA. The study consists of two parts. The first part, which is reported in this release, evaluated the efficacy of upadacitinib in combination with a 26-week corticosteroid taper regimen compared with placebo in combination with a 52-week corticosteroid taper regimen. In addition, the study assessed the safety and tolerability of upadacitinib in these patients. The efficacy and safety of withdrawing versus continuing upadacitinib in maintaining remission in participants who achieved sustained remission in the first part will be evaluated in the second part of the study.7 Top-line results of part one of the study were shared in April 2024. For more information regarding this study, please visit ClinicalTrials.gov (identifier: NCT03725202). About Upadacitinib (RINVOQ®) Discovered and developed by AbbVie scientists, RINVOQ is a selective and reversible JAK inhibitor that is being studied in several immune-mediated inflammatory diseases.2,8 In human cellular assays, RINVOQ preferentially inhibits signaling by JAK1 or JAK 1/3 with functional selectivity over cytokine receptors that signal via pairs of JAK2.2 Upadacitinib (RINVOQ) is being studied in Phase 3 clinical trials for alopecia areata, giant cell arteritis, hidradenitis suppurativa, Takayasu arteritis, systemic lupus erythematosus and vitiligo.9-14 EU Indications and Important Safety Information about RINVOQ® (upadacitinib)2 Indications Giant cell arteritis RINVOQ is indicated for the treatment of giant cell arteritis (GCA) in adult patients. Rheumatoid arthritis RINVOQ is indicated for the treatment of moderate to severe active rheumatoid arthritis (RA) in adult patients who have responded inadequately to, or who are intolerant to one or more disease-modifying anti-rheumatic drugs (DMARDs). RINVOQ may be used as monotherapy or in combination with methotrexate. Psoriatic arthritis RINVOQ is indicated for the treatment of active psoriatic arthritis (PsA) in adult patients who have responded inadequately to, or who are intolerant to one or more DMARDs. RINVOQ may be used as monotherapy or in combination with methotrexate. Axial spondyloarthritis Non-radiographic axial spondyloarthritis (nr-axSpA) RINVOQ is indicated for the treatment of active non-radiographic axial spondyloarthritis in adult patients with objective signs of inflammation as indicated by elevated C-reactive protein (CRP) and/or magnetic resonance imaging (MRI), who have responded inadequately to nonsteroidal anti-inflammatory drugs (NSAIDs). Ankylosing spondylitis (AS, radiographic axial spondyloarthritis) RINVOQ is indicated for the treatment of active ankylosing spondylitis in adult patients who have responded inadequately to conventional therapy. Atopic dermatitis RINVOQ is indicated for the treatment of moderate to severe atopic dermatitis (AD) in adults and adolescents 12 years and older who are candidates for systemic therapy. Ulcerative colitis RINVOQ is indicated for the treatment of adult patients with moderately to severely active ulcerative colitis (UC) who have had an inadequate response, lost response or were intolerant to either conventional therapy or a biologic agent. Crohn's disease RINVOQ is indicated for the treatment of adult patients with moderately to severely active Crohn's disease who have had an inadequate response, lost response or were intolerant to either conventional therapy or a biologic agent. Important Safety Information Contraindications RINVOQ is contraindicated in patients hypersensitive to the active substance or to any of the excipients, in patients with active tuberculosis (TB) or active serious infections, in patients with severe hepatic impairment, and during pregnancy. Special warnings and precautions for use RINVOQ should only be used if no suitable treatment alternatives are available in patients: 65 years of age and older; patients with history of atherosclerotic cardiovascular (CV) disease or other CV risk factors (such as current or past long-time smokers); patients with malignancy risk factors (e.g. current malignancy or history of malignancy) Use in patients 65 years of age and older Considering the increased risk of MACE, malignancies, serious infections, and all-cause mortality in patients ≥65 years of age, as observed in a large randomised study of tofacitinib (another JAK inhibitor), RINVOQ should only be used in these patients if no suitable treatment alternatives are available. In patients ≥65 years of age, there is an increased risk of adverse reactions with RINVOQ 30 mg once daily. Consequently, the recommended dose for long-term use in this patient population is 15 mg once daily. Immunosuppressive medicinal products Use in combination with other potent immunosuppressants is not recommended. Serious infections Serious and sometimes fatal infections have been reported in patients receiving RINVOQ. The most frequent serious infections reported included pneumonia and cellulitis. Cases of bacterial meningitis and sepsis have been reported with RINVOQ. Among opportunistic infections, TB, multidermatomal herpes zoster, oral/esophageal candidiasis, and cryptococcosis have been reported. RINVOQ should not be initiated in patients with an active, serious infection, including localized infections. RINVOQ should be interrupted if a patient develops a serious or opportunistic infection until the infection is controlled. A higher rate of serious infections was observed with RINVOQ 30 mg compared to 15 mg. As there is a higher incidence of infections in the elderly and patients with diabetes in general, caution should be used when treating these populations. In patients ≥65 years of age, RINVOQ should only be used if no suitable treatment alternatives are available. Tuberculosis Patients should be screened for TB before starting RINVOQ. RINVOQ should not be given to patients with active TB. Anti-TB therapy may be appropriate for select patients in consultation with a physician with expertise in the treatment of TB. Patients should be monitored for the development of signs and symptoms of TB. Viral reactivation Viral reactivation, including cases of herpes zoster, was reported in clinical studies. The risk of herpes zoster appears to be higher in Japanese patients treated with RINVOQ. Consider interruption of RINVOQ if the patient develops herpes zoster until the episode resolves. Screening for viral hepatitis and monitoring for reactivation should occur before and during therapy. If hepatitis B virus DNA is detected, a liver specialist should be consulted. Vaccination The use of live, attenuated vaccines during or immediately prior to therapy is not recommended. It is recommended that patients be brought up to date with all immunizations, including prophylactic zoster vaccinations, prior to initiating RINVOQ, in agreement with current immunization guidelines. Malignancy Lymphoma and other malignancies have been reported in patients receiving JAK inhibitors, including RINVOQ. In a large randomised active controlled study of tofacitinib (another JAK inhibitor) in RA patients ≥50 years of age with ≥ 1 additional CV risk factor, a higher rate of malignancies, particularly lung cancer, lymphoma, and non-melanoma skin cancer (NMSC), was observed with tofacitinib compared to tumour necrosis factor (TNF) inhibitors. A higher rate of malignancies, including NMSC, was observed with RINVOQ 30 mg compared to 15 mg. Periodic skin examination is recommended for all patients, particularly those with risk factors for skin cancer. In patients ≥65 years of age, patients who are current or past long-time smokers, or patients with other malignancy risk factors (e.g., current malignancy or history of malignancy), RINVOQ should only be used if no suitable treatment alternatives are available. Hematological abnormalities Treatment should not be initiated, or should be temporarily interrupted, in patients with hematological abnormalities observed during routine patient management. Gastrointestinal Perforations Events of diverticulitis and gastrointestinal perforations have been reported in clinical trials and from post-marketing sources. RINVOQ should be used with caution in patients who may be at risk for gastrointestinal perforation (e.g., patients with diverticular disease, a history of diverticulitis, or who are taking nonsteroidal antiinflammatory drugs (NSAIDs), corticosteroids, or opioids). Patients with active Crohn's disease are at increased risk for developing intestinal perforation. Patients presenting with new onset abdominal signs and symptoms should be evaluated promptly for early identification of diverticulitis or gastrointestinal perforation. Major adverse cardiovascular events MACE were observed in clinical studies of RINVOQ. In a large randomised active-controlled study of tofacitinib (another JAK inhibitor) in RA patients ≥50 years of age with ≥1 additional CV risk factor, a higher rate of MACE, defined as CV death, non-fatal myocardial infarction and non-fatal stroke, was observed with tofacitinib compared to TNF inhibitors. Therefore, in patients ≥65 years of age, patients who are current or past long-time smokers, and patients with history of atherosclerotic CV disease or other CV risk factors, RINVOQ should only be used if no suitable treatment alternatives are available. Lipids RINVOQ treatment was associated with dose-dependent increases in lipid parameters, including total cholesterol, low-density lipoprotein cholesterol, and high-density lipoprotein cholesterol. Hepatic transaminase elevations Treatment with RINVOQ was associated with an increased incidence of liver enzyme elevation. Hepatic transaminases must be evaluated at baseline and thereafter according to routine patient management. If alanine transaminase (ALT) or aspartate transaminase (AST) increases are observed and drug-induced liver injury is suspected, RINVOQ should be interrupted until this diagnosis is excluded. Venous thromboembolism Events of deep venous thrombosis (DVT) and pulmonary embolism (PE) were observed in clinical trials for RINVOQ. In a large randomised active-controlled study of tofacitinib (another JAK inhibitor) in RA patients ≥50 years of age with ≥1 additional CV risk factor, a dose dependent higher rate of VTE including DVT and PE was observed with tofacitinib compared to TNF inhibitors. In patients with CV or malignancy risk factors, RINVOQ should only be used if no suitable treatment alternatives are available. In patients with known VTE risk factors other than CV or malignancy risk factors (e.g. previous VTE, patients undergoing major surgery, immobilisation, use of combined hormonal contraceptives or hormone replacement therapy, and inherited coagulation disorder), RINVOQ should be used with caution. Patients should be re-evaluated periodically to assess for changes in VTE risk. Promptly evaluate patients with signs and symptoms of VTE and discontinue RINVOQ in patients with suspected VTE. Hypersensitivity reactions Serious hypersensitivity reactions such as anaphylaxis and angioedema have been reported in patients receiving RINVOQ. If a clinically significant hypersensitivity reaction occurs, discontinue RINVOQ and institute appropriate therapy. Hypoglycemia in patients treated for diabetes There have been reports of hypoglycemia following initiation of JAK inhibitors, including RINVOQ, in patients receiving medication for diabetes. Dose adjustment of anti-diabetic medication may be necessary in the event that hypoglycemia occurs. Medication Residue in Stool Reports of medication residue in stool or ostomy output have occurred in patients taking RINVOQ. Most reports described anatomic (e.g., ileostomy, colostomy, intestinal resection) or functional gastrointestinal conditions with shortened gastrointestinal transit times. Patients should be instructed to contact their healthcare professional if medication residue is observed repeatedly. Patients should be clinically monitored, and alternative treatment should be considered if there is an inadequate therapeutic response. Giant Cell Arteritis RINVOQ monotherapy should not be used for the treatment of acute relapses as efficacy in this setting has not been established. Glucocorticoids should be given according to medical judgement and practice guidelines. Adverse reactions The most commonly reported adverse reactions in RA, PsA, and axSpA clinical trials (≥2% of patients in at least one of the indications) with RINVOQ 15 mg were upper respiratory tract infections, blood creatine phosphokinase (CPK) increased, ALT increased, bronchitis, nausea, neutropenia, cough, AST increased, and hypercholesterolemia. Overall, the safety profile observed in patients with psoriatic arthritis or active axial spondyloarthritis treated with RINVOQ 15 mg was consistent with the safety profile observed in patients with RA. The most commonly reported adverse reactions in AD trials (≥2% of patients) with RINVOQ 15 mg or 30 mg were upper respiratory tract infection, acne, herpes simplex, headache, blood CPK increased, cough, folliculitis, abdominal pain, nausea, neutropenia, pyrexia, and influenza. Dose dependent increased risks of infection and herpes zoster were observed with RINVOQ. The safety profile for RINVOQ 15 mg in adolescents was similar to that in adults. With long-term exposure, skin papilloma was reported in adolescents in the RINVOQ 15 mg and 30 mg groups. The most commonly reported adverse reactions in the UC and CD trials (≥3% of patients) with RINVOQ 45 mg, 30 mg or 15 mg were upper respiratory tract infection, pyrexia, blood CPK increased, anemia, headache, acne, herpes zoster, neutropenia, rash, pneumonia, hypercholesterolemia, bronchitis, AST increased, fatigue, folliculitis, ALT increased, herpes simplex, and influenza. The overall safety profile observed in patients with UC was generally consistent with that observed in patients with RA. Overall, the safety profile observed in patients with CD treated with RINVOQ was consistent with the known safety profile for RINVOQ. The most common serious adverse reactions were serious infections. The safety profile of RINVOQ with long-term treatment was generally similar to the safety profile during the placebo-controlled period across indications. Overall, the safety profile observed in patients with GCA treated with RINVOQ 15 mg was generally consistent with the known safety profile for RINVOQ. This is not a complete summary of all safety information. See RINVOQ full Summary of Product Characteristics (SmPC) at Globally, prescribing information varies; refer to the individual country product label for complete information. About AbbVie in Rheumatology For more than 20 years, AbbVie has been dedicated to improving care for people living with rheumatic diseases. Anchored by a longstanding commitment to discovering and delivering transformative therapies, we pursue cutting-edge science that improves our understanding of promising new pathways and targets, ultimately helping more people living with rheumatic diseases reach their treatment goals. For more information, visit AbbVie in rheumatology. About AbbVie AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas including immunology, oncology, neuroscience and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at . Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter), and YouTube. Forward-Looking Statements Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2024 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its subsequent Quarterly Reports on Form 10-Q. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law. References Blockmans D, Penn SK, Setty AR, et al. A phase 3 trial of upadacitinib for giant-cell arteritis. N Engl J Med. Published online April 2, 2025; doi:10.1056/NEJMoa2413449. RINVOQ. Summary of Product Characteristics. AbbVie; 2025. Ameer MA, Peterfy RJ, Khazaeni B. Giant cell arteritis (temporal arteritis). Updated August 8, 2023. Mohammad AJ, Englund M, Turesson C, et al. Rate of Comorbidities in Giant Cell Arteritis: A Population-based Study. J Rheumatol. 2017;44(1):84-90. doi:10.3899/jrheum.160249 Weyand CM, Goronzy JJ. Immunology of giant cell arteritis. Circ Res. 2023;132(2):238-250. doi:10.1161/CIRCRESAHA.122.322128 Giant cell arteritis. Arthritis Foundation. Accessed January 9, 2025. AbbVie. Data on file: ABVRRTI78418. Pipeline. AbbVie. 2023. Accessed January 9, 2025. A study to evaluate the safety and efficacy of upadacitinib in participants with giant cell arteritis (SELECT-GCA). ClinicalTrials.gov identifier: NCT03725202. Accessed January 9, 2025. A study to evaluate the efficacy and safety of upadacitinib in participants with Takaysu arteritis (TAK) (SELECT-TAK). ClinicalTrials.gov identifier: NCT04161898. Accessed January 9, 2025. Program to assess adverse events and change in disease activity of oral upadacitinib in adult participants with moderate to severe systemic lupus erythematosus (SELECT-SLE). ClinicalTrials.gov identifier: NCT05843643. Accessed January 9, 2025. A study to assess change in disease activity and adverse events of oral upadacitinib in adult and adolescent participants with moderate to severe hidradenitis suppurativa who have failed anti-TNF therapy (Step-Up HS). ClinicalTrials.gov identifier: NCT05889182. Accessed January 9, 2025. A study to assess adverse events and effectiveness of upadacitinib oral tablets in adult and adolescent participants with vitiligo (Viti-Up). ClinicalTrials.gov identifier: NCT06118411. Accessed January 9, 2025. A study to evaluate the safety and effectiveness of upadacitinib tablets in adult and adolescent participants with severe alopecia areata (UP-AA). ClinicalTrials.gov identifier: NCT06012240. Accessed January 9, 2025. SOURCE AbbVie WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED