{"slug":"incyte","name":"인사이트","name_en":"Incyte Corporation","ticker":"INCY","updated_at":"2026-09-24T05:06:14.454257+00:00","canonical":"https://valuechain.wiki/incyte","citable":"밸류체인 그래프 기준 인사이트의 직접 연결 기업은 2곳(관계 기준 공급 0·매출 1·투자 1)이고, 사슬을 2차까지 넓히면 19곳에 닿는다. 링크의 근거 출처는 4건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-09-24 기준).","citable_en":"Per the valuechain.wiki graph, Incyte Corporation is directly linked to 2 companies (0 supply, 1 revenue, 1 investment relationships) and reaches 19 companies within two hops; the links are backed by 4 dated sources, 2 of them primary filings (as of 2026-09-24).","kicker":"항암·면역 신약사","kicker_en":"Oncology and immunology drugmaker","lead":"인사이트는 자체 개발 의약품 판매와 파트너가 판매하는 라이선스 의약품의 로열티로 돈을 번다. 신약 후보의 라이선스 도입, 공동개발과 상업화 이익배분, 외부 제조에 비용을 쓰며 후속 파이프라인 지분투자도 병행한다.","lead_en":"Incyte earns revenue from sales of its own medicines and royalties on licensed drugs sold by partners. 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It is +28.3% in 2026. The stock (+28.3%) and its demand side (avg +7.5%) are moving in step. It spends on in-licensed candidates, shared development and commercialization economics, and external manufacturing while also making equity investments in pipeline partners.","analysis_asof":"2026-09-04"},"edges":[{"direction":"revenue","counterparty":"노바티스","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-10","basis":"노바티스의 JAKAVI·TABRECTA 판매에서 발생한 제품 로열티 매출 합계","value":484431000,"period":"FY2025","basis_en":"Combined product royalty revenue from Novartis sales of JAKAVI and TABRECTA","qualifier":null},"note":"노바티스는 미국 밖에서 JAKAVI를, 허가 지역에서 TABRECTA를 판매하고 인사이트에 매출 연동 로열티를 지급한다. 두 제품에서 인사이트가 인식한 FY2025 로열티는 합계 4억8,443만1천달러다.","note_en":"Novartis sells JAKAVI outside the United States and TABRECTA in licensed territories, paying Incyte sales-based royalties. Incyte recognized $484.431 million of combined royalties from the two products in FY2025.","sources":[{"stance":"confirms","publisher":"메디팜스투데이","publisher_en":"Medipharmstoday","kind":"news","lang":"ko","published_at":"2026-08-27","url":"https://www.apsk.co.kr/news/articleView.html?idxno=540268","title":"자카비 제네릭 경쟁…대웅 이어 종근당 '염 변경'으로 우판권 도전하나","title_en":"Jakavi Generic Race: Chong Kun Dang May Follow Daewoong With a Salt-Change Challenge","excerpt":"자카비는 노바티스와 인사이트가 공동 개발한 JAK 억제제이며 국내 오리지널 의약품은 노바티스 제품이라고 보도했다.","excerpt_en":"The article identifies Jakavi as a JAK inhibitor co-developed by Novartis and Incyte and sold in Korea by Novartis."},{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/879169/000087916926000010/incy-20251231.htm","title":"인사이트 2025 회계연도 Form 10-K","title_en":"Incyte Corporation 2025 Annual Report on Form 10-K","excerpt":"FY2025 JAKAVI 로열티는 4억5,772만9천달러, TABRECTA 로열티는 2,670만2천달러였다.","excerpt_en":"JAKAVI product royalty revenues $457,729; TABRECTA product royalty revenues $26,702."},{"stance":"confirms","publisher":"OpenIcon","publisher_en":"OpenIcon","kind":"analysis","lang":"en","published_at":"2025-04-29","url":"https://www.openicon.com/confsums/2025/incy_04_29_2025.html","title":"인사이트 2025년 1분기 애널리스트 콘퍼런스 요약","title_en":"Incyte Q1 2025 Analyst Conference Summary","excerpt":"분석 요약은 JAKAVI 로열티가 노바티스의 미국 외 판매에서 발생하며 2025년 1분기 9,200만달러였다고 정리했다.","excerpt_en":"Jakafi royalty revenue is from sales by Novartis outside the U.S."}]},{"direction":"cost","counterparty":"MacroGenics","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-10","basis":"MacroGenics에 지급한 누적 개발·규제 마일스톤","value":215000000,"period":"Agreement inception through FY2025","basis_en":"Cumulative development and regulatory milestones paid to MacroGenics","qualifier":null},"note":"인사이트는 MacroGenics에서 항 PD-1 항체 INCMGA0012의 세계 개발·상업화 권리를 도입했고 일부 임상·상업 물량 제조 권리도 MacroGenics에 남겼다. 계약 체결 이후 FY2025 말까지 개발·규제 마일스톤 2억1,500만달러를 지급했다.","note_en":"Incyte licensed worldwide development and commercialization rights to the anti-PD-1 antibody INCMGA0012 from MacroGenics, which also retained rights to manufacture part of the clinical and commercial supply. Cumulative development and regulatory milestone payments reached $215 million through FY2025.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/879169/000087916926000010/incy-20251231.htm","title":"인사이트 2025 회계연도 Form 10-K","title_en":"Incyte Corporation 2025 Annual Report on Form 10-K","excerpt":"인사이트는 계약 체결 이후 2025년 말까지 MacroGenics에 개발·규제 마일스톤 2억1,500만달러를 지급했다.","excerpt_en":"Through December 31, 2025, we have paid MacroGenics developmental and regulatory milestones totaling $215.0 million."}]},{"direction":"revenue","counterparty":"일라이 릴리","counterparty_slug":"lilly-eli","confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-10","basis":"일라이 릴리의 OLUMIANT 판매에서 발생한 제품 로열티 매출","value":144600000,"period":"FY2025","basis_en":"Product royalty revenue from Lilly sales of OLUMIANT","qualifier":null},"note":"일라이 릴리는 라이선스 지역에서 OLUMIANT를 판매하고 인사이트에 순매출 연동 로열티를 지급한다. 인사이트가 인식한 FY2025 OLUMIANT 로열티 매출은 1억4,460만달러였다.","note_en":"Lilly sells OLUMIANT in licensed territories and pays Incyte royalties based on net sales. Incyte recognized $144.6 million of OLUMIANT royalty revenue in FY2025.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/879169/000087916926000010/incy-20251231.htm","title":"인사이트 2025 회계연도 Form 10-K","title_en":"Incyte Corporation 2025 Annual Report on Form 10-K","excerpt":"FY2025 일라이 릴리 OLUMIANT 순매출에 연동된 제품 로열티 매출은 1억4,460만달러였다.","excerpt_en":"Product royalty revenue related to Lilly net sales of OLUMIANT ... was $144.6 million."}]},{"direction":"cost","counterparty":"Syndax Pharmaceuticals","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-10","basis":"NIKTIMVO 미국 공동상업화에서 Syndax에 귀속된 이익배분액","value":44000000,"period":"FY2025","basis_en":"Syndax's profit share from U.S. co-commercialization of NIKTIMVO","qualifier":null},"note":"인사이트와 Syndax는 NIKTIMVO의 미국 상업화 이익과 손실을 절반씩 나눈다. FY2025 Syndax 몫의 이익 4,400만달러가 인사이트의 제품매출원가에 반영됐다.","note_en":"Incyte and Syndax split U.S. commercialization profit and loss for NIKTIMVO equally. Syndax's $44 million share of FY2025 profit was recorded in Incyte's cost of product revenue.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/879169/000087916926000010/incy-20251231.htm","title":"인사이트 2025 회계연도 Form 10-K","title_en":"Incyte Corporation 2025 Annual Report on Form 10-K","excerpt":"미국 공동상업화에 따른 Syndax의 FY2025 이익 50%는 4,400만달러로 제품매출원가에 반영됐다.","excerpt_en":"Syndax's 50% share of profit was $44.0 million for the year ended December 31, 2025."}]},{"direction":"investment","counterparty":"Prelude Therapeutics","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"USD","as_of":"2026-02-10","basis":"Prelude Therapeutics 무의결권 보통주 지분투자 원금","value":25000000,"period":"November 2025","basis_en":"Principal amount of the equity investment in Prelude Therapeutics non-voting common stock","qualifier":null},"note":"인사이트는 Prelude의 JAK2V617F 프로그램에 대한 독점 인수 옵션을 확보하면서 Prelude 무의결권 보통주 625만주를 주당 4달러에 매입했다. 지분투자 원금은 2,500만달러였다.","note_en":"Incyte secured an exclusive option over Prelude's JAK2V617F program and bought 6.25 million non-voting common shares at $4 per share. The equity investment totaled $25 million.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-02-10","url":"https://www.sec.gov/Archives/edgar/data/879169/000087916926000010/incy-20251231.htm","title":"인사이트 2025 회계연도 Form 10-K","title_en":"Incyte Corporation 2025 Annual Report on Form 10-K","excerpt":"인사이트는 Prelude에 선급금 3,500만달러와 지분투자 2,500만달러를 합쳐 6,000만달러를 지급했다.","excerpt_en":"We paid Prelude a total of $60.0 million ... plus a $25.0 million equity investment."}]},{"direction":"investor","counterparty":"BlackRock","counterparty_slug":"blackrock","confidence":"high","metric":{"type":"share","unit":"percent","as_of":"2026-04-28","basis":"인사이트 위임장 권유 신고서에 기재된 BlackRock 실질 지분율","value":7.6,"period":"2026 proxy statement","basis_en":"BlackRock beneficial ownership reported in Incyte's proxy statement","qualifier":null},"note":"인사이트의 2026년 위임장 권유 신고서는 BlackRock을 5% 이상 실질 주주로 기재했다. 신고서 표의 보유량은 1,524만2,171주, 지분율은 7.6%다.","note_en":"Incyte's 2026 proxy statement lists BlackRock as a beneficial owner above 5%. The table reports 15,242,171 shares, representing a 7.6% stake.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회 EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-04-28","url":"https://www.sec.gov/Archives/edgar/data/879169/000087916926000031/incy-20260428.htm","title":"인사이트 2026년 위임장 권유 신고서","title_en":"Incyte Corporation 2026 Proxy Statement","excerpt":"BlackRock의 실질 보유 주식은 1,524만2,171주, 지분율은 7.6%로 기재됐다.","excerpt_en":"BlackRock, Inc. 15,242,171 7.6%."}]}]}