INCYIncyte
Incyte is a global biopharmaceutical company engaged in the discovery, development and commercialization of proprietary therapeutics. 10-K, Item 1
- Employees
- 2,844
- Headquarters
- Wilmington, DE
- CEO
- William Meury
- Next results
- around Feb 9, 2027
What the 10-K filed 2026-02-10 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-02-10.
Big customers
Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).
“Customers A, B, C, D and E comprised, in the aggregate, 54% and 49% of the accounts receivable balance as of December 31, 2025 and 2024, respectively.”
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Key suppliers
1 newParts or manufacturing that depend on one or a few suppliers.
“Further, in August 2022, the Inflation Reduction Act of 2022 was enacted, which includes provisions allowing the federal government to negotiate prices for certain high-expenditure single source Medicare drugs, to impose penalties and to implement a potential excise tax for manufacturers that fail to comply with the negotiation by offering a price that is not equal to or less than the negotiated “maximum fair price” under the law, and to impose rebate liability on manufacturers that take price increases that exceed inflation.”
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New “We generally have a single source or a limited number of suppliers that are qualified to supply each of the raw materials, API and finished product of our drug products and our other drug candidates.”
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“We obtain some inventory components from a limited number of suppliers due to technology, availability, price, quality or other considerations.”
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Lawsuits and legal claims
2 newPending cases, settlements and what the company has set aside for them.
New “On May 11, 2025, we and Novartis entered into a settlement agreement (the “Settlement Agreement”) with respect to litigation initiated by Novartis relating to the duration of royalty payments owed by us to Novartis under the Collaboration and License Agreement.”
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New “Additionally, as described in Note 7, we entered into a settlement and license agreement with Sun, resolving patent infringement litigation related to Leqselvi (deuruxolitinib).”
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Guarantees and indemnities
1 newPromises to pay someone else's debts or losses if they cannot.
New “By policy, we invest our excess available funds primarily in U.S. government debt securities, which are securities issued or guaranteed by the U.S. government, and money market funds that meet certain guidelines, which limits exposure to potential credit losses.”
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Debt covenants
Conditions in loan agreements that, if broken, can make debt due early.
“As of December 31, 2025, we had no outstanding borrowings and were in compliance with all covenants under this facility.”
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“As of December 31, 2025, we were in compliance with all financial and operational covenants under the terms of the Credit Agreement and there were no outstanding borrowings or letters of credit outstanding.”
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Commitments off the balance sheet
Contracts the company must pay for later: purchase obligations, take-or-pay deals.
No specific sentence about this in the 10-K.
Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗
Work on INCY in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/INCY/export.csv") into a cell.