Darzalex, J&J’s best-selling treatment for blood cancer, brought in US$3.08 billion, a more than 20% increase from a year earlier.
The company’s medical devices were another bright spot, growing nearly 7% to $8.19 billion on the quarter.
J&J is grappling with a multibillion-dollar patent cliff as its second-biggest drug, the psoriasis treatment Stelara, faces off-brand competition in the US and Europe.
The company is counting on newer medicines, including Darzalex and the autoimmune treatment Tremfya, to make up for the decline.
The shares fell 1.5% before US markets opened today, after shedding 7.7% in 2024.
Adjusted earnings were US$2.04 a share and revenue was US$22.5 billion in the quarter, slightly ahead of analyst projections compiled by Bloomberg.
2025 forecast
For 2025, J&J said operational sales will grow between 2.5% and 3.5%, with adjusted operational earnings of US$10.75 to US$10.95 per share.
Earlier this month, J&J agreed to pay nearly US$15 billion for Intra-Cellular Therapies Inc, which makes an approved medicine for bipolar depression.
The drug, Caplyta, could be a “wonder pill,” CFO Joe Wolk said in an interview, with the potential to reach US$5 billion in annual revenue if it proves effective in other conditions.
“We want to be No 1 in neuro,” Wolk said, pointing to Spravato, J&J’s approved treatment for major depressive disorder, and medicines in development for Alzheimer’s disease and other related conditions.
The company is awaiting court approval of an US$8 billion deal that would settle thousands of claims related to its talc products.
Final word could come this quarter, which would remove one of investors’ long-term concerns about J&J’s business.
Three of J&J’s drugs, including Stelara, were among the first 10 medicines up for US government price negotiations and will see a decline in 2026.
None of the company’s products made the latest list of 15 drugs slated for cuts in 2027.
“J&J hasn’t joined its peers in asking the incoming Trump administration to pause pricing negotiation,” Wolk said, adding that the company is “bullish” about the industry’s future under Trump.
“I think there are opportunities when you have a pro-business, pro-innovation administration wanting to learn about the dynamics of a specific industry,” he said.
“We see positive momentum in the type of dialogue they hope to have,” he added.