Johnson & Johnson (JNJ) Goldman Sachs 46th Annual Global Healthcare Conference summary

Strategic focus and growth outlook

• Emphasis on immunology, oncology, and neuroscience as core pillars, with a target of 5%-7% annual growth and $57 billion in sales achieved ahead of schedule in 2024.

• Oncology growth driven by assets like Darzalex, Erleada, and new launches such as Rybrevant FastPro and Lazcluze, with significant momentum in multiple myeloma and lung cancer.

• Immunology pipeline strengthened by Tremfya's rapid uptake in IBD and the acquisition of Intracellular, supporting robust operational growth despite Stelara's loss of exclusivity.

• Neuroscience portfolio expanded with Spravato and the Intracellular acquisition, targeting major depressive disorder and neurodegeneration.

• Ongoing collaboration with the administration on PBM and 340B reforms to reduce patient costs at the pharmacy counter.

Product launches and pipeline highlights

• Tremfya has captured 50% of new share in ulcerative colitis induction within six months and recently gained U.S. approval for Crohn's disease.

• Oral IL-23 inhibitor Icotrokinra (JNJ-2113) is positioned as a first-line systemic treatment for autoimmune diseases, with head-to-head data against DUCRA expected later this year.

• Darzalex continues strong growth in multiple myeloma, with no IRA price negotiation expected before 2034 due to its innovative formulation.

• Carvykti shows transformative efficacy in multiple myeloma, with one-third of patients disease-free after five years and expanding use in earlier lines of therapy.

• Bladder cancer program (TAR-200/Ilexa and TAR-210) targets a $5 billion-plus opportunity, with FDA priority review and anticipated approval in fall.

Competitive positioning and future opportunities

• Rybrevant Lazcluze projects $4 billion in sales by 2028, driven by a 12-month survival advantage in EGFR non-small cell lung cancer and expansion into colorectal and head and neck cancers.

• Continued investment in bispecific and trispecific antibodies, with leadership in multiple myeloma and a focus on achieving cures.

• Nipocalimab (Imaavy) launch in myasthenia gravis is underway, with expansion planned into rare autoimmune and maternal-fetal diseases.

• Neuroscience growth fueled by Spravato and Caplyta, with Caplyta positioned as a best-in-disease asset for depression and schizophrenia.

• Strategic business development remains focused on the three core areas, with additional opportunities in atopic dermatitis, oncology, and pulmonary arterial hypertension.