Johnson & Johnson recently announced its intention to spin off its consumer health business, following in the footsteps of a number of other pharmaceutical companies that have shrunk down to focus on their pharmaceutical divisions. executives are already praising the potential of their own pharmaceutical division. During a pharmaceutical strategy review on Thursday, Johnson & Johnson executives said the company expects to be a $60 billion-a-year manufacturer by 2025.
Jennifer Taubert, executive vice president and global chairman of pharmaceuticals at Johnson & Johnson, stated on the call that the company forecasts compound annual sales growth of at least 5% per year through the middle of the decade, with increase expected every year. To get there, the company will use a mix of existing medicines, exploratory treatments, and new, revolutionary therapeutics including CAR-T drugs and gene therapies, according to Taubert.
Darzalex, Imbruvica, Erleada, and Tremfya, all Johnson & Johnson products, are examples of established medications primed for growth, according to Taubert. Darzalex, a cancer drug, may soon benefit from approval of a combo therapy in frontline multiple myeloma. According to Taubert, the combination therapy, which included Revlimid and the steroid dexamethasone, improved progression-free survival by about 30 months compared to Revlimid alone.