Johnson & Johnson's Oncology Ascendancy: Strategic Breakthrough Behind $20.8 Billion in Revenue

In 2024, Johnson & Johnson's oncology business annual sales exceeded the $20 billion mark for the first time.Generated revenue of $20.781 billion，First Surpassing Self-Immune($17.828 billion), becoming the largest source of Johnson & Johnson's innovative drug revenue。

In 2015, Johnson & Johnson's oncology business reported an annual revenue of only $4.695 billion. Compared to that time, its cumulative growth in oncology performance today has reached an impressive 342%. The proportion of innovative drug revenue contributed by oncology has also increased from 14.9% to 36.5%. Over the span of more than a decade, how did Johnson & Johnson’s oncology business grow from a small sapling into a towering tree supporting the company’s overall performance?

Data Source: Johnson & Johnson Annual Reports, Insight Database Chart

Multiple Myeloma

Comprehensive Layout to Establish Dominant Position

Multiple Myeloma（MM）The pipeline is the main source of revenue for Johnson & Johnson's oncology business.Revenue exceeded $13.1 billion in 24 years, contributing 63% of total oncology revenue.。

In the MM field, Johnson & Johnson has built a strong and diverse product pipeline.Drug types includeChemical drugs, monoclonal antibodies, CAR-T, bispecific antibodies, with a treatment scope covering patient populations from later-line to front-line, Johnson & Johnson's comprehensive layout has made it the leader in the MM field.

Johnson & Johnson's layout in the multiple myeloma field began with bortezomib. Bortezomib is a proteasome inhibitor, initially developed by Millennium Pharmaceuticals. The drug was first approved in the United States in May 2003 for third-line or later treatment of MM, and it was the first new drug in the MM field to receive FDA approval in over a decade at that time.

In June 2003, Johnson & Johnson, through its subsidiary Ortho Biotech Products, entered into a collaboration with Millennium worth over $535 million to gain the rights to develop and commercialize bortezomib outside the United States. In 2008, Millennium was acquired by Takeda for $8.8 billion, after which bortezomib came under the global co-development and commercialization by Takeda and Johnson & Johnson.

In the MM field,Bortezomib quickly advanced from later-line to front-line treatment, with approved indications including monotherapy and combination therapy, and has become a first-line treatment for patients with MM.In the indication of mantle cell lymphoma, the treatment status of bortezomib has also moved from second-line to first-line.

According to Johnson & Johnson's financial report, between 2008 and 2020,Bortezomib has cumulatively sold nearly 14.8 billion US dollars, plus undisclosed sales figures before 2007 and after 2021,The total revenue generated by this drug for Johnson & Johnson is expected to exceed $15 billion.。With the patent expiration, the sales of bortezomib plummeted,By 2020Sales(Johnson & Johnson side)Only $408 million. However, Johnson & Johnson has a plan.

BortezomibAnnual Sales Revenue

Image Source: Insight Database

  Daratumumab: Blockbuster Product

Daratumumab is the successor to bortezomib. It was initially developed by Genmab. In August 2012, Johnson & Johnson secured its global exclusive rights from Genmab with an upfront payment of $55 million. Due to its remarkable efficacy in MM treatment, daratumumab has received Fast Track designation, Breakthrough Therapy designation, and Priority Review status from the FDA.

In November 2015, daratumumab received FDA accelerated approval.(Now fully approved), used to treat MM patients in the fourth-line and above, and became the world's first approved CD38 monoclonal antibody. In the second year of its commercial launch, it generated $1.242 billion in sales, offsetting the revenue decline caused by the patent expiration of bortezomib.

Thereafter, Johnson & Johnson acceleratedExpanding the indications of daratumumab in the MM field from the last line to third-line, second-line, and first-line.At the same time, to enhance its market competitiveness, Johnson & Johnson has also developed a subcutaneous injection formulation of daratumumab.

With the expansion of new indications, the successful development of subcutaneous formulations, and the increase in approved regions, the sales of daratumumab have also skyrocketed. In 2024, nine years after its market launch, ...Sales exceeded $10 billion for the first time, reaching $11.67 billion, single-handedly propping up half of Johnson & Johnson's oncology business.

Daratumumab Annual Sales

Image Source: Insight Database

The potential of daratumumab in the MM field has not been fully unleashed. By the end of 2024, subcutaneous daratumumab has been submitted for the treatment of high-risk smoldering multiple myeloma in Europe, America, and Japan.（HR-SMM）The listing application.Smoldering Multiple Myeloma isThere are currently no effective means to prevent disease progression in high-risk patients during the asymptomatic precursor stage of MM.

On May 20 this year, the FDA Oncology Drug Advisory Committee（ODAC）InA 6:2 vote in favorDaratumumabApproval of HR-SMM IndicationIf approved, daratumumab will further cover the pre-cancer market of MM, building a closed-loop for the full-line treatment of MM patients.

  Cilta-cel: The Next Billion-Dollar Molecule

Cilta-cel is a BCMA CAR-T product that Johnson & Johnson introduced from Legend Biotech in 2017, primarily due to its promising therapeutic potential in MM. At the 2017 ASCO conference, cilta-cel garnered attention with its impressive data from the Phase I clinical trial in relapsed/refractory MM.（ORR 100%，CR 95%）, becoming the dark horse of that year's ASCO at one stroke. In December of the same year, Johnson & Johnson and Legend reached a cooperation to jointly develop and commercialize Cilta-cel (Ciltacabtagene Autoleucel) to further expand their MM and oncology pipelines.

On the other hand, 2017 marked the first year of CAR-T therapy, with Novartis and Kite Pharma (under Gilead) gaining successive approvals for their CD19 CAR-T treatments, used for B-cell acute lymphoblastic leukemia and primary mediastinal large B-cell lymphoma, respectively. Johnson & Johnson was also able to quickly enter the CAR-T field by introducing related products.

Cilta-cel was first approved in 2022 and has now been approved in Europe, the US, Japan, and China for late-line treatment of relapsed/refractory MM, as well as for second-line treatment of relapsed/refractory MM in the US and EU. Follow-up data from the CARTITUDE-1 study presented at this year’s ASCO showed thatMedian Overall Survival（OS）Reached 60.7 months, with approximately 1/3 achieving ≥5 years of progression-free survival., with very good results.

In 2024,Cilta-cel Global Sales Reach $963 Million, Up 92.6% Year-over-YearIn the first quarter of this year, the revenue of Cilta-cel grew by 135% year-on-year to US$369 million. According to this trend, its sales this year are highly expected to exceed US$1 billion, making it a blockbuster drug.

Image Source: Insight Database

  Dual Antibody: A New Force

Despite the significant efficacy of the newly listed Cilta-cel, Johnson & Johnson has still developed two bispecific antibodies for its MM pipeline — Teclistamab and Talquetamab, both of which were introduced from its "long-time partner" Genmab. Compared with CAR-T, which requires personalized custom production, bispecific antibodies can be mass-produced, making them more convenient.

Talquetamab was first approved in August 2022 and has now been approved in Europe, the United States, China, and Japan for the treatment of relapsed or refractory multiple myeloma.Is the world's first approved BCMA×CD3 bispecific antibody, with sales of $549 million in 24 years.

Talquetamab was first approved in the United States in August 2023 for the end-line treatment of multiple myeloma.Is the world's first GPRC5D×CD3 bispecific antibody, which can provide a new option for patients who progress after receiving BCMA CAR-T or BCMA×CD3 bispecific antibody therapy.

Heavyweight Bomb in Hematology: Ibrutinib

In the field of hematological tumors, Johnson & Johnson has also developed a blockbuster product—Ibrutinib.（Imbruvica）. Ibrutinib is a product from Pharmacyclics, a Johnson & Johnson company.(Later acquired by AbbVie)The introduced BTK inhibitor is the second product in Johnson & Johnson's hematology oncology field.

Ibrutinib was first approved in 2014 as the world's first marketed BTK inhibitor, with approved indications covering chronic lymphocytic leukemia/small lymphocytic lymphoma.(CLL/SLL, second-line/first-line)、Mantle Cell Lymphoma(Second Line), Waldenström's macroglobulinemia, Graft-versus-host disease.

Since its listing,Ibrutinib has contributed a total of $28.642 billion in revenue to Johnson & Johnson.However, with the patent expiration, the sales of Ibrutinib began to decline in 2022. The sales in 2024 were $3.038 billion, a year-on-year decrease of 6.9%.

Image Source: Insight Database

Solid Tumor Field

Prostate Cancer Products Contribute Over $360 Billion in Revenue

Johnson & Johnson's revenue in the solid tumor sector mainly comes from two prostate cancer treatment products—abiraterone and apalutamide, which have collectively contributed approximately $36.2 billion to Johnson & Johnson's income.

Abiraterone is a selective, irreversible inhibitor of the CYP17A1 enzyme, initially developed by Cougar Biotechnology and acquired by Johnson & Johnson in 2009 through the acquisition of Cougar. The drug was first approved in 2011 for second-line treatment of castration-resistant prostate cancer and later expanded to first-line treatment.

Since its listing,Abiraterone has generated a cumulative revenue of $26.541 billion. With the patent having expired,AbirateroneAnnual sales have declined from a peak of $3.498 billion to $631 million in 24 years.

Image Source: Insight Database

After the patent for Abiraterone expired, Johnson & Johnson successfully launched its successor product, Apalutamide.Apalutamide is a second-generation nonsteroidal androgen receptor（AR）Inhibitor, initially developed by Aragon Pharmaceuticals, was acquired by Johnson & Johnson in 2013 through the purchase of Aragon.

Apalutamide was first approved in 2018 and has since been approved in the United States, the European Union, Japan, and China for the first-line treatment of castration-resistant prostate cancer and hormone-dependent prostate cancer. Since its launch, its sales have continued to rise.Sales in 24 years have reached $2.99 billion, a year-on-year increase of 25.64%., offsetting the impact of the expiration of Abiraterone's patent on performance.

Image Source: Insight Database

In addition, Johnson & Johnson has also launchedNiraparib + Abiraterone Acetate Compound Preparation —— AkeegaAkeega was first approved in April 2023 and has now been launched in the EU, the US, and China, in combination with prednisone or prednisolone for the treatment of adult patients with BRCA1/2-mutated metastatic castration-resistant prostate cancer.（mCRPC）First-line treatment.

Beyond prostate cancer, Johnson & Johnson is also gradually expanding its pipeline in other solid tumor fields.In the field of lung cancer, Johnson & Johnson has successfully launched Amivantamab and Lazertinib.Amivantamab is an EGFR×c-MET bispecific antibody introduced by Johnson & Johnson from Genmab, and Lazertinib is a third-generation EGFR-TKI introduced by Johnson & Johnson from South Korea's Yuhan Corporation. Amivantamab has been approved as monotherapy or in combination with chemotherapy for EGFR exon 20 insertion mutation NSCLC, and in combination with Lazertinib for EGFR-sensitive mutation NSCLC.

In addition, Johnson & Johnson has introduced a pan-FGFR inhibitor from Astex Pharmaceuticals.Erdafitinib, The drug has been approved for use in patients with locally advanced or metastatic urothelial carcinoma in the United States, European Union, Japan, and China.

For products such as Talquetamab, Amivantamab, Erdafitinib, and Lazertinib, Johnson & Johnson did not disclose their specific sales figures in its financial report but categorized them under other oncology products. In 2024, these products collectively generated $931 million in revenue.

  Summary

From the above, it can be seen that the rise of Johnson & Johnson's oncology business is almost a history of BD transactions and mergers and acquisitions. All these oncology pipelines were acquired through company mergers or introduced from external sources. Particularly...Genmab has successively provided Johnson & Johnson withDaratumumab,Talimogene laherparepvec, Tarextumab,Four products of Amivantamab.

In the field of treatment, Johnson & Johnson is highly focused and deeply committed to the MM field. Over the past two decades, they have iteratively developed their products step by step, offering a very diverse range of drug types. They have particularly excelled in managing product patent periods, ensuring a seamless transition that has guaranteed continuous annual growth in performance. In the solid tumor field, the major contributor remains the prostate cancer product, followed by contributions from the lung cancer field.Amivantamab and Lazertinib were just approved recently, and their subsequent explosive potential remains to be verified over time.

References:

[1] Johnson & Johnson Annual Reports and Official Press Releases

[2] Insight Database

Cover image source: ZCool HaiLuo

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