J&J 4Q Results

4Q Revenues: $24.6 billion +9%

4Q Earnings: $5.1 billion +49%

FY Revenues: $94.2 billion +6%

FY Earnings: $26.8 billion +91%

Comments: Innovative Medicine sales were $15.8 billion in the quarter, up 10%, primarily driven by DARZALEX, CARVYKTI, ERLEADA, and RYBREVANT/LAZCLUZE in Oncology, TREMFYA and SIMPONI/SIMPONI ARIA in Immunology, and SPRAVATO in Neuroscience. 

DARZALEX sales were up 27% to $3.9 billion. CARVYKTI sales were up 66% to $555 million. ERLEADA sales were up 22% to $959 million.  RYBREVANT/LAZCLUZE sales were $216 million, up 78%. TREMFYA sales were up 68% to $1.6 billion. SIMPONI/SIMPONI ARIA sales were $632 million, up 8%. SPRAVATO sales were up 69% to $503 million.

Growth in the quarter was partially offset by a 48% decline in STELARA sales in Immunology to $1.2 billion.

Results reflect the completed prioritization of its R&D investment within the Innovative Medicine segment in fiscal 2023. This resulted in the exit of certain programs primarily in infectious diseases and vaccines, including the discontinuation of its RSV adult vaccine program, hepatitis and HIV development. The restructuring expense of $102 million in fiscal 2024 included the termination of partnered and non-partnered program costs, asset impairments and asset divestments.