Oncology Becomes Fierce Battleground for Multinational Pharma Giants as J&J, AstraZeneca, and Merck Showcase Strong Tumor Drug Performances

　　【Pharmaceutical Network Industry DynamicsIn the past month, more than 10 multinational pharmaceutical companies have released their half-year financial reports. After reviewing them, it was found that the oncology business has become a "must-compete" area for multinational pharmaceutical companies. In the first half of 2024, companies including Johnson & Johnson, AstraZeneca, and Merck all showcased impressive results in cancer drugs.
 

Among the data, Johnson & Johnson's financial report for the first half of 2024 shows that it achieved an overall revenue of $43.83 billion, a year-on-year increase of 3.3%. The revenue from its innovative pharmaceuticals segment was $28.052 billion, also increasing by 3.3% year-on-year. In the innovative drugs segment, oncology drugs performed particularly well, generating $9.904 billion in revenue in the first half of 2024, a year-on-year increase of 16.4%. Two leading oncology drugs contributed significantly to sales: Daratumumab and the immunological drug Ustekinumab, with revenues of $5.57 billion and $5.336 billion, respectively. Ciltacabtagene autoleucel (Carvykti), the CAR-T therapy developed in collaboration with Legend Biotech, also showed impressive performance as one of the key growth drivers. Thanks to continuous capacity expansion, improved manufacturing efficiency, and strong demand, its sales reached $343 million (approximately 2.5 billion RMB) in the first half of the year, marking an 81.5% year-on-year increase. In April this year, Carvykti received FDA approval as a BCMA CAR-T product for second-line treatment of multiple myeloma, which suggests that its market uptake may accelerate further in the future. Additionally, the bispecific antibody Tecvayli generated $268 million in sales, reflecting a year-on-year increase of over 70%.
 

AstraZeneca's financial report for the first half of the year shows that, driven by strong global demand, the revenue of three anti-cancer drugs — Tagrisso for lung cancer, Calquence for blood cancer, and Enhertu, an antibody-drug conjugate (ADC) co-developed with Daiichi Sankyo — all achieved growth, increasing by 8%, 21%, and 46% respectively. In the first half of this year, AstraZeneca’s total revenue reached $25.617 billion, a year-on-year increase of 18%, including $24.629 billion from product sales, also marking an 18% year-on-year increase.
 

Merck's "K drug" Keytruda (Pembrolizumab) continues to outshine Humira, with impressive performance this year. In the first half of 2024, Merck achieved pharmaceutical business revenue of $28.415 billion, of which "K drug" contributed $14.217 billion, representing an 18% year-on-year increase. It is reported that "K drug," which has been approved for 40 indications, is still exploring more new indications, with further market potential yet to be unleashed. However, Merck's other anti-tumor PD-1 inhibitor "O drug" Opdivo (Nivolumab) saw only a 3% growth in Q2 revenue, reaching $2.387 billion. The Q2 2024 results show that the company achieved total revenue of $16.11 billion, a year-on-year increase of 7%.
 

Notably, there is both good and bad news. Some previously prominent cancer drugs are now on the decline. For instance, Roche's financial report shows that the revenue of its three major anticancer drugs in the oncology segment—bevacizumab, rituximab, and trastuzumab—has been declining since 2020. In 2023, their sales dropped by 16%, 19%, and 15% year-on-year, respectively. In the first half of 2024, impacted by biosimilars, the combined sales of these three drugs fell by 400 million Swiss francs. However, Roche’s ophthalmology bispecific antibody faricimab showed impressive growth, with sales reaching 1.794 billion Swiss francs (approximately 2.027 billion U.S. dollars), a year-on-year increase of 93%. Overall, the field of oncology still accounts for a significant portion of Roche's revenue, with total revenue amounting to 9.619 billion Swiss francs (approximately 10.867 billion U.S. dollars).
 

For instance, BMS's lenalidomide, which once had sales exceeding $10 billion, has also been impacted by generic drugs, leading to a decline in sales since 2022. Financial reports show that in the second quarter of 2024, the product's sales dropped by 6% to $1.353 billion.
 

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