Johnson & Johnson (J&J) has seen strong sales growth for its cancer therapy Carvykti and immune disease drug Tremfya in the third quarter.

Importance of Strong Sales Growth

This growth is particularly important as J&J prepares for the upcoming patent loss of its second-best-selling drug, Stelara.

Market Expansion and Performance

The company's recent approvals have expanded the market reach of both medications, contributing to their strong performance.

Decline in Sales of Stelara

However, Stelara is already experiencing a decline in sales due to biosimilar competition in Europe and larger-than-expected rebates from insurers.

Comparison to AbbVie's Humira

J&J's Chief Financial Officer has compared Stelara's situation to that of AbbVie's Humira, which saw a significant drop in sales after the introduction of biosimilars in the US.

Tremfya as a Potential Successor

J&J sees Tremfya as a potential successor to Stelara and is actively pursuing further expansion into Crohn's disease.

Growth of Carvykti in Oncology Field

Carvykti has gained momentum in the oncology field following FDA approval for use in patients with relapsed multiple myeloma.

Positive Financial Outlook

J&J's financial outlook remains positive, despite underwhelming performance in its medical device division.

Mitigating Impact of Biosimilar Competition

The company's focus on expanding the market presence of Tremfya and Carvykti is crucial in mitigating the impact of biosimilar competition.

Adaptation and Innovation

J&J's ability to adapt and innovate will be key to maintaining its competitive edge in the evolving pharmaceutical landscape.