Incyte Corporation is trading 4.1% up today at $102.25 after announcing a favorable litigation settlement with the Centers for Medicare & Medicaid Services (CMS) regarding Medicaid rebate treatment for Opzelura.
- The agreement prevents Opzelura from being treated as a line extension of Jakafi, a move expected to provide approximately $246 million in economic benefit.
- The settlement improves long-term visibility on Opzelura profitability and reduces Medicaid exposure, driving renewed investor optimism in the stock.