# Who are Incyte Corporation's customers? Who does Incyte Corporation earn revenue from?
Canonical: https://valuechain.wiki/incyte · Facet: customers · Updated: 2026-09-24T05:06:14.454257+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Incyte Corporation's confirmed revenue counterparties include Lilly (Eli) plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 2 revenue edges, backed by 3 dated sources, 1 of them primary filings (as of 2026-09-24).

### 노바티스 (high)
- metric: Amount $484M · FY2025 · Combined product royalty revenue from Novartis sales of JAKAVI and TABRECTA
- note: 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.
- [confirms] Medipharmstoday (KO, news, published 2026-08-27) https://www.apsk.co.kr/news/articleView.html?idxno=540268: "The article identifies Jakavi as a JAK inhibitor co-developed by Novartis and Incyte and sold in Korea by Novartis."
- [confirms] SEC EDGAR (EN, filing, published 2026-02-10) https://www.sec.gov/Archives/edgar/data/879169/000087916926000010/incy-20251231.htm: "JAKAVI product royalty revenues $457,729; TABRECTA product royalty revenues $26,702."
- [confirms] OpenIcon (EN, analysis, published 2025-04-29) https://www.openicon.com/confsums/2025/incy_04_29_2025.html: "Jakafi royalty revenue is from sales by Novartis outside the U.S."

### 일라이 릴리 (high)  → /lilly-eli.md
- metric: Amount $145M · FY2025 · Product royalty revenue from Lilly sales of OLUMIANT
- note: 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.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-10) https://www.sec.gov/Archives/edgar/data/879169/000087916926000010/incy-20251231.htm: "Product royalty revenue related to Lilly net sales of OLUMIANT ... was $144.6 million."

### BlackRock (high)  → /blackrock.md
- metric: Market share 7.6 percent · 2026 proxy statement · BlackRock beneficial ownership reported in Incyte's proxy statement
- note: 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.
- [confirms] SEC EDGAR (EN, filing, published 2026-04-28) https://www.sec.gov/Archives/edgar/data/879169/000087916926000031/incy-20260428.htm: "BlackRock, Inc. 15,242,171 7.6%."

Reverse side: https://valuechain.wiki/incyte/suppliers.md · Ripple: https://valuechain.wiki/incyte/ripple.md

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Full node: https://valuechain.wiki/incyte.md · JSON: https://valuechain.wiki/incyte.json