The company said total GAAP revenues for Q1 2024 (ended March 31, 3 months) were $880,889 thousand, up 9% from $808,673 thousand a year earlier. GAAP net income for the same period was $169,548 thousand.

1. 01

   The company said total GAAP revenues for Q1 2024 (ended March 31, 3 months) were $880,889 thousand, up 9% from $808,673 thousand a year earlier. GAAP net income for the same period was $169,548 thousand.

2. 02

   The company reported Jakafi net product revenues of $571,839 thousand for Q1 (-1%) and Opzelura net product revenues of $85,724 thousand (+52%). It said channel inventory for Jakafi decreased by approximately $55 million versus Q4 2023.

3. 03

   The company said on April 2024 it entered into a definitive agreement with Escient Pharmaceuticals to acquire Escient for $750 million plus Escient's net cash remaining at the close of the transaction, subject to customary adjustments. The acquisition will become effective promptly after the Hart-Scott-Rodino Act clearance and other customary conditions are satisfied or waived.

4. 04

   The company said GAAP operating income for Q1 2024 was $91,898 thousand, up 271% from $24,770 thousand a year earlier. Cash, cash equivalents and marketable securities totaled $3.9 billion as of March 31, 2024 and $3.7 billion as of December 31, 2023.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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