J&J sees 20 new drug launches by 2030 as Stelara generics loom
05 Dec 2023
Phase 3BiosimilarPatent Infringement
Johnson & Johnson is targeting the launch of at least 20 new therapies by 2030, as it banks on strong demand for existing cancer drugs Darzalex and Carvykti to help guide it through the looming loss of exclusivity for its autoimmune disease treatment Stelara, the company told investors Tuesday. It said revenue growth is projected to be between 5% and 6% in 2024 as Stelara, which accounted for about a fifth of Johnson & Johnson's drug sales in the third quarter, gears up to face generic competition outside the US.
Stelara is expected to come under pressure in Europe as early as the middle of next year as a key patent on the drug runs out. However, Johnson & Johnson succeeded in obtaining a temporary deferral from US generic competition for the drug this year through legal settlements with Amgen, Teva/Alvotech and Fresenius Kabi, allowing it to sell the drug exclusively in the country until at least early 2025.
"We think we're very well positioned, even in spite of what will be the beginning of some biosimilar entrants to Stelara outside the US in mid- to second-half of 2024," commented chief financial officer Joseph Wolk. He noted that sales of the drug, which brought in $2.9 billion in the company's most recent completed quarter, largely come from its use as a treatment for inflammatory bowel diseases.
Focus on cancer, autoimmune, depression drugs
Meanwhile, Johnson & Johnson said over 10 of its products had the potential to generate more than $5 billion in peak year sales, including newer cancer treatments Talvey and Tecvayli, as well as the oral IL-23 receptor antagonist peptide JNJ-2113 set to move into Phase III testing for plaque psoriasis.
The company also says it has at least 15 assets that may be able to generate between $1 billion and $5 billion in peak sales, including depression treatments Spravato, the orexin antagonist seltorexant and the κ-opioid receptor antagonist aticaprant, as well as JNJ-4804, which is under development for ulcerative colitis, psoriatic arthritis and Crohn's disease.
However, despite the likelihood of biosimilar entrants to Stelara in 2025, the company is pegging operational sales growth will be at least 3% that year. Over the longer term, Johnson & Johnson sees sales from the pharmaceutical unit growing at a compounded annual rate of 5% to 7% between 2025 and 2030. It is forecasting full-year adjusted operational profit of $10.55 to $10.75 per share in 2024.
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