Incyte settles CMS dispute over Opzelura Medicaid rebates; records $246M benefit

INCYTE CORP

• CMS will not apply line extension regulation to Opzelura as if it were a line extension of Jakafi; Incyte withdraws lawsuit.
• One-time non-cash benefit of ~$246M in Q2 2026 from reversal of previously accrued liabilities through March 31, 2026.
• No future accruals for potential line extension regulations; expects improvement to Opzelura's gross-to-net.
• Company plans to update financial guidance on next scheduled earnings release.