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Johnson & Johnson forecasts as much as 6% sales growth in 2024
  + stars: | 2023-12-05 | by ( ) www.reuters.com   time to read: +2 min
Dec 5 (Reuters) - Johnson & Johnson (JNJ.N) on Tuesday forecast revenue growth of 5-6% for the next year, as it banks on strong demand for cancer treatments Darzalex and Carvykti and resilient sales of blockbuster drug Stelara. The company has narrowed its focus on its drugs and medical devices business since it hived off its consumer health unit earlier this year. Sales of blockbuster psoriasis treatment Stelara in Europe are expected to come under pressure as early as next year as a key patent on the drug expires. Sales of the drug largely come from its use as a treatment for inflammatory bowel diseases (IBD), Wolk said. J&J's 2024 revenue growth forecast excludes sales of its COVID vaccine.
Persons: Johnson, Joseph Wolk, Wolk, J, Bhanvi, Patrick Wingrove, Anil D'Silva Organizations: Johnson, Thomson Locations: Europe, United States, Bengaluru, New York
US FDA approves Pfizer's blood cancer therapy
  + stars: | 2023-08-14 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Johanna Geron/File PhotoAug 14 (Reuters) - The U.S. Food and Drug Administration on Monday granted accelerated approval to Pfizer's (PFE.N) therapy for treating patients with a type of blood cancer that is difficult to treat, the company said. Multiple myeloma is a common type of blood cancer, which develops in the bone marrow and can spread throughout the body. The FDA approval is based on data from a mid-stage study that showed that 58% of patients treated with Pfizer's therapy had no signs of cancer or had seen a significant decrease in cancer cells in the body. Pfizer said it will continue testing the therapy in ongoing late-stage trials to expand its use in earlier lines of treatment for patients. The therapy's approval comes with a boxed warning for neurologic toxicity and cytokine release syndrome, a condition where the immune system reacts more aggressively.
Persons: Johanna Geron, Epkinly, Johnson, Pfizer's, Bhanvi Satija, Leroy Leo, Pratik, Shounak Dasgupta Organizations: Pfizer, REUTERS, U.S . Food, Drug Administration, FDA, Thomson Locations: Puurs, Belgium, U.S, Bengaluru
U.S. FDA approves Johnson & Johnson's blood cancer therapy
  + stars: | 2023-08-10 | by ( ) www.cnbc.com   time to read: +2 min
Johnson & Johnson said on Thursday the U.S. Food and Drug Administration had approved its antibody-based therapy for patients with a difficult-to-treat type of blood cancer. The therapy, Talvey, belongs to a class of treatments called bispecific antibodies designed to bring a cancer cell and an immune cell together so the body's immune system can kill the cancer. Around 35,730 people in the U.S. are expected to be diagnosed with multiple myeloma this year. The cancer starts in the bone marrow and disrupts production of normal blood cells. The accelerated approval is based on mid-stage trial data, which showed 73.6% patients achieved either partial or complete disappearance of cancer from their body.
Persons: Johnson, Talvey, J's Tecvayli, Michael Andreini Organizations: U.S . Food, Drug Administration, Reuters, FDA Locations: U.S, White Oak , Maryland
Chasing the market higher is a bad idea right now, and investors should turn to safe-haven sectors instead, investor Sarat Sethi warned. "I think as an equity investor, one needs to be really careful here and not chase some of these rallies, especially for stocks that are looking for lower discount rates." Stocks rose on the back of the data, with the Dow Jones Industrial Average trading more than 400 points higher at its session peak. Haleon and pharmaceutical giant Johnson & Johnson were also mentioned by Sethi. Johnson & Johnson is down 2% in 2023 but has risen more than 3% in August.
Persons: Sarat Sethi, Sethi, Dow Jones, Freeport's, Johnson Organizations: Reserve, Dow Jones Industrial, Johnson, GSK, Janssen Pharmaceuticals, Food and Drug Administration Locations: Freeport, McMoRan
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