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Johnson & Johnson Expects Sales To Rise By 6% By 2024.

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Johnson & Johnson Expects Sales To Rise By 6% By 2024.

(CTN News) – Johnson & Johnson has provided a revenue growth forecast of 5% to 6% for the upcoming year. This projection is based on the strong demand for cancer treatments such as Darzalex and Carvykti, as well as the resilient sales of their blockbuster drug Stelara.

The Johnson & Johnson company has strategically shifted its focus toward its drugs and medical devices business after separating its consumer health unit earlier this year.

However, there are potential challenges on the horizon. Sales of Stelara, a highly successful psoriasis treatment in Europe, may face pressure due to the expiration of a key patent on the drug.

Additionally, Johnson & Johnson competition is expected to arise in the United States by 2025.

Despite these challenges, Chief Financial Officer Joseph Wolk remains confident in the company’s position. He stated, “We believe we are well positioned, even with the anticipated entry of biosimilar competitors to Stelara outside the US in the middle to the second half of 2024.”

Wolk also highlighted that a significant portion of Stelara’s sales come from its use in treating inflammatory bowel diseases (IBD).

In anticipation of an upcoming meeting with investors, Johnson & Johnson has projected a steady growth rate of 5-7% per year in its pharmaceutical division between 2025 and 2030.

The company has ambitious plans to introduce at least 20 new therapies by 2030, with over 10 of them having the potential to generate more than $5 billion in sales at their peak.

Notable among these are the cancer treatments Talvey and Tecvayli. J&J has also provided a financial outlook for 2024, expecting an adjusted operational profit of $10.55 to $10.75 per share, which includes a 15-cent impact from the recent acquisition of Laminar, a private medical device manufacturer.

It’s important to note that J&J’s revenue growth forecast for 2024 does not include sales of its Covid vaccine.

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