Johnson & Johnson Reports Q1 2025 Results with 4.2% Operational Revenue Growth and Raises Full-Year Sales Outlook by $7 Billion

On April 15, 2025, Johnson & Johnson announced its 2025 Q1 results.QuarterFinancial Report,Revenue reached$21.9 billion, year-on-year growth2.4%, excluding the impact of exchange rate, then increased year-on-year4.2%; ProfitReachRecently$11 billionThis modest growth is noteworthy given that Johnson & Johnson continues to face increasing biosimilar competition for its blockbuster drug Stelara.

Globally,Stelara in 2025Q1Quarterly sales are approximately$1.6 billion,Year-on-yearDecrease Nearly34%Last year, the total sales of the drug decreased by approximately 4.6% to $10.4 billion.

Nevertheless, the situation for many other brand drugs from Johnson & Johnson is much better.CompanyInnovative PharmaceuticalsBusinessGlobal Sales$13.9 billion, a year-on-year increase of 2.3%。Among them,Sales of 11 different major pharmaceutical brands achieved double-digit growth.In addition, the company'sMedical TechnologyBusinessGlobal Sales$80 billion, a year-on-year increase of 2.5%。

InIn innovative drugs,The field of tumor treatment has contributed the most, with revenue reaching$5.678 billion，Followed byImmunologyField Revenue37.$0.7 billion, NeuroscienceField Revenue16.$4.7 Billion, Pulmonary Hypertension (PH)Field Revenue10.$2.5 billion, Infectious DiseasesField Revenue8.$0.2 billionAndCVM/OtherField Revenue10.$1.3 billion.

Focus on specific products,Multiple Myeloma Products as the Main Core，IncludingCD38 monoclonal antibody DARZALEX, BCMA/CD3 bispecific antibody TECVAYLI, BCMA CAR-T cell therapy CARVYKTI, and GPRC5D/CD3 bispecific antibody Talvey.The first three productsIn2025Q1QuarterTotal Sales Reached$3.757 billionAmong themCARVYKTI Sales Reach $369 Million, Up 135% Year-over-Year and 7% Quarter-over-Quarter。Johnson & Johnson inMultiple MyelomaFieldThe Dominant PositionContinues to be consolidated。

FromGlobal Market PerformanceSee，Sales in the U.S. market amounted to$12.3 billion, a year-on-year increase of 5.9%, while international market sales were $9.6 billion, a year-on-year decrease of 1.8%; sales in the Asia-Pacific and African regions slightly declined, reflecting global economic instability.

It is worth noting that,Despite tariffs beginning to impact Johnson & Johnson's medical technologyBusinessHave an impact——The threat of pharmaceutical tariffs is not far off——butJohnson & Johnson still firmly believesOne can withstand the upcoming turmoil of the trade war. In fact,After completing a new neuroscience acquisition, the company raised its annual sales forecast.

Johnson & Johnson now expectsTotal operational sales for 2025 are expected to reach $91.6 billion to $92.4 billion, an increase of $700 million from the initial forecast announced in January., the company said in its earnings report on Tuesday.

Johnson & Johnson's Chief Financial Officer, Joseph· Joseph Wolk attributed this growth to Johnson & Johnson's recent $14.6 billion acquisition of neuroscience company Intra-Cellular Therapies. The deal was completed earlier this month.Enables Johnson & Johnson to acquire Caplyta, a drug approved for the treatment of schizophrenia and bipolar disorder.Caplyta is also seeking approval for major depressive disorder, which could be the most profitable indication for atypical antipsychotics to date.

Despite the company's optimistic guidance, Johnson & Johnson is also considering the impact of the Trump administration's policies on imports from other countries.Comprehensive Taxation on GoodsAnd the potential impact of retaliatory tariffs imposed by these countries on the United States.Due to the tariff situation in the United States,Johnson & JohnsonIt is estimated that next year will suffer approximatelyA loss of 400 million US dollars.Currently, the majorityPressureWill be concentrated inJohnson & JohnsonThe medical technology department, Volker explained in a conference call with analysts on Tuesday.

Johnson & Johnson CEO Joaquin· Joaquin Duato also commented on potential future pharmaceutical tariffs. "Tariffs could disrupt supply chains and lead to shortages,"If you want to build manufacturing capabilities in the medical technology and pharmaceutical fields in the United States, the most effectiveMethodIt's not the tariff, but the tax policy.”

Duato pointed out that President TrumpThe 2017 legislation that cut the U.S. corporate tax rate from 35% to 21% was a more favorable policy, he noted, adding that investment in life sciences manufacturing in China has been steadily increasing since the reform was implemented.ItsWill also strengthen Johnson & Johnson's recently announced investment in the United States over the next four years.A $55 billion plan is linked to Trump's 2017 tax policy, andNoThe President's Recent Tariffs。

"After completing this investment plan, basically all advanced drugs used in the United States will be manufactured in the United States," Duato explained, reiterating his previous stance that "tax policy is a very effective tool for establishing manufacturing capacity here."

As for the newly announced by the Trump administrationSection 232 Investigation - In response to this investigation, the Department of Commerce is examining the impact of pharmaceutical imports on national security - Duato clarified that Johnson & Johnson was aware of the upcoming investigation and considered it a "normal" event. He believed that "it is important for companies in the healthcare industry to collaborate with the government to mitigate certain vulnerabilities existing in the current healthcare supply chain."

References:

[1] Johnson & Johnson2025Q1QuarterFinancial ReportMaterials.

[2] Johnson & Johnson 2025 Q1: CAR-T and Bispecific Antibodies Achieve Bidirectional Growth. UmabsDB. 2025-04-15.
[3]As Johnson & Johnson navigates changing tariff landscape, execs lay out their expectations.By Fraiser Kansteiner.Apr 15, 2025 11:55am.