Johnson & Johnson’s key cancer drug CARVYKTI reports a 57.4% year-over-year sales growth, down from 63.2% in the prior quarter.
Johnson & Johnson’s CARVYKTI, a cell therapy for multiple myeloma, generated $600 million in sales last quarter, marking a 57.4% year-over-year increase. The growth rate, while strong, decelerated from 63.2% in the previous quarter, raising investor scrutiny.
The drug is pivotal to JNJ’s $100 billion revenue target and double-digit growth ambitions by the decade’s end. Analysts had anticipated accelerating momentum during its ramp-up phase, making the slight slowdown a potential concern.
JNJ’s broader performance remains robust, with double-digit growth excluding its declining drug STELARA. However, the trajectory of CARVYKTI could influence investor confidence in the company’s growth narrative.