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Johnson & Johnson 4Q Revenues Slip 4%

Growth for DARZALEX, STELARA, ERLEADA, TREMFYA and INVEGA SUSTENNA offset by declines for REMICADE, IMBRUVICA, ZYTIGA, and COVID-19 vaccines.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Johnson & Johnson
4Q Revenues: $23.7 billion (-4%)
4Q Earnings: $3.5 billion (-26%)
YTD Revenues: $94.9 billion (+1%)
YTD Earnings: $17.9 billion (-14%)
Comments: Pharmaceutical sales were $13.2 billion in the quarter, down 7% and $52.6 billion for the year, up 2%. Pharmaceutical sales growth for the year was driven by DARZALEX (up 32% to $8.0 billion), a biologic for the treatment of multiple myeloma, STELARA ( up 7% to $9.7 billion), a biologic for the treatment of a number of immune-mediated inflammatory diseases, ERLEADA (up 46% to $1.9 billion), a next-gen androgen receptor inhibitor for the treatment of prostate cancer, TREMFYA (up 25% to$2.7 billion), a biologic for the treatment moderate to severe plaque psoriasis, active psoriatic arthritis, and INVEGA SUSTENNA/XEPLION and INVEGA TRINZA/TREVICTA (up 3% to $4.1 billion), a long-acting, injectable atypical antipsychotics for the treatment of schizophrenia. 
 
Growth for the year was partially offset by declines in sales of REMICADE (down 27% to $2.3 billion), a biologic for the treatment of several immune-mediated inflammatory diseases, IMBRUVICA (down 13% to $3.8 billion), an oral therapy for treating certain B-cell malignancies, and ZYTIGA (down 23% to $1.8 billion), an oral medication for use in combination with prednisone for the treatment of metastatic castration-resistant prostate cancer. 
 
COVID-19 vaccine sales were $689 million in the quarter, down 57%, and $2.2 billion for the year, up 2%. COVID-19 Vaccine related costs were $821 million in the quarter and $1.5 billion for the year, and include remaining commitments, including external manufacturing network exit costs and required clinical trial expenses, associated with the Company’s modification of its COVID-19 vaccine research program and manufacturing capacity to levels that meet all remaining customer contractual requirements.

R&D expenses were down 19% in the quarter to $3.8 billion, and were $14.6 billion for the year, down 1%.

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