Incyte earns $60M milestone payment from Novartis related to Jakavi Incyte (INCY) announced that it has earned a $60M milestone payment from Novartis (NVS) related to reimbursement of Jakavi in Europe. Incyte will record this amount as contract revenue in Q3, and expects to receive payment of $60M in Q4. Under the Incyte-Novartis Collaboration and License Agreement signed in 2009, Novartis received exclusive development and commercialization rights to ruxolitinib outside of the U.S. for all hematologic and oncologic indications, and sells ruxolitinib under the name Jakavi. Ruxolitinib is marketed by Incyte in the U.S. as Jakafi. The achievement of this milestone also triggers the obligation for Incyte to pay tiered, low-single digit royalties to Novartis on all future sales of Jakafi in the U.S.