Johnson & Johnson (J&J, NYSE: JNJ) has released its financial report for the third quarter of 2024, announcing revenues of USD 22.47 billion for the period, marking a 5.2% increase year-on-year in constant currency terms. This growth was comprised of USD 4.58 billion in innovative medicine sales, which expanded by 6.3%, and USD 7.89 billion in med-tech sales, representing a 6.4% increase. As a result, the company has raised its operational sales guidance for the full year of 2024.
The quarter saw significant progress across J&J’s product pipeline, with approvals for the anti-IL-23 antibody Tremfya (guselkumab) for ulcerative colitis and the EGFR inhibitor Rybrevant (amivantamab) combined with Lazcluze (lazertinib) for non-small cell lung cancer. In the medtech sector, operational sales growth was primarily driven by electrophysiology products and Abiomed in Cardiovascular, contact lenses in Vision, and wound closure products in General Surgery. Additionally, an Investigational Device Exemption (IDE) was granted for OTTAVA, its general surgery robotic system.
Innovative Medicine saw growth driven by the increasing uptake of established brands. In Oncology, multiple myeloma drug Darzalex (daratumumab) and prostate cancer therapy Erleada (apalutamide) generated USD 3.016 billion and USD 790 million respectively, with increases of 20.7% and 25.4%. In Immunology, Tremfya and Stelara (ustekinumab) brought in USD 1.007 billion (+13.0%) and USD 2.676 billion (-6.6%) respectively. In Neuroscience, Spravato (esketamine) achieved sales of USD 284 million, up 54.9%. In Pulmonary Hypertension, Opsumit (macitentan)’s sales grew 16.8% to USD 571 million.
Notably, Carvykti (ciltacabtagene autoleucel), a BCMA-targeted chimeric antigen receptor (CAR) T cell therapy co-developed with China-based Legend Biotech (Nasdaq: LEGN), was a standout performer. The drug’s sales rose 87.7% to USD 286 million in Q3’24 and 84.3% over the first nine months to USD 629 million in global sales. This performance positions the BCMA-targeted CAR-T therapy to potentially exceed USD 1 billion in global sales this year, following its landmark approval in the US as a second-line treatment for R/R MM in April 2024, significantly expanding the drug’s potential market.- Flcube.com
