Acquisition ConcernsThe acquisition of Escient Pharmaceuticals is viewed as very early and costly with a potential launch for the acquired assets only by 2029, which may not align with investor expectations for timely returns.
Financial FlexibilityIncyte's cash position will decrease by approximately $3 billion post-acquisition, impacting financial flexibility and potentially affecting the company's ability to invest in other strategic opportunities.
Patent Cliff RisksThere are concerns about Incyte's ability to address the large revenue gap due to the loss of exclusivity of Jakafi in 2028, raising questions about the company's future earnings potential.