Johnson & Johnson Reports Full-Year 2024 Revenue of $88.8 Billion, Up 4.3%, Driven by Strong Oncology and Immunology Portfolio

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On January 22, Johnson & Johnson announced its Q4 financial report for 2024, with annual revenue reaching 88.8 billion US dollars, a year-on-year increase.Increase by 4.3%Operating growth was 5.9%, adjusted operating growth was 5.4%. Operating growth excluding the COVID-19 vaccine was 7.0%.

Innovative drugs contribute the most in the field of oncology treatment, with a total revenue of $20.781 billion in 2024, becoming the largest therapeutic area in pharmaceuticals.

The growth in the oncology business was primarily driven by DARZALEX (daratumumab), ERLEADA (apalutamide), CARVYKTI (ciltacabtagene autoleucel), and other oncology products, TREMFYA (guselkumab) in the immunology area, and SPRAVATO in neuroscience. This growth was partially offset by STELARA (ustekinumab) in the immunology field and other products within neuroscience. Including the COVID-19 vaccine, operational sales of global innovative drugs increased by 5.7%.

Among them, the multiple myeloma treatment drug targeting CD38DarzalexContinued market share growth across all regions globally,Revenue reached $116.70 billion for the year,An increase of 19.8% year-over-year.This is the first time that the drug's sales have broken through the 10 billion US dollar mark since its launch in 2015.Tremfya continued to maintain double-digit growth, with sales reaching $3.670 billion in 2024, a year-over-year increase of 16.6%.

Stelara, impacted by biosimilars, saw its revenue decrease by 4.6% year-over-year to $10.361 billion. Its European market has been continuously eroded, and it is expected that the U.S. market will also face significant challenges from biosimilars by 2025.

Moreover, the company's star productCARVYKTIThe performance is also impressive.

BMCA CAR-T Drug Co-developed by Johnson & Johnson and Legend BiotechCARVYKTI, reaching an annual sales of $963 million in its third year on the market,Nearly doubled from 2023 (US$500 million)。At the same time, as it gradually expands frontline treatments for multiple myeloma, future sales will increase significantly.

Looking ahead to 2025, Johnson & Johnson expects a growth rate of 2.5%-3.5%, with total revenue expected to reach $90.9-$91.7 billion.

References:

Company Financial Report

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