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Johnson & Johnson reported strong sales growth for its cancer therapy Carvykti and immune disease drug Tremfya in Q3, as new approvals expanded their market reach. This growth comes as the company braces for biosimilar competition to its second-best-selling drug, Stelara, expected in January 2025, which saw a 7% sales decline due to insurer rebates. J&J remains optimistic, raising its operational sales guidance for the year, with plans to expand Tremfya into Crohn’s disease and Carvykti's recent FDA approval for earlier treatment in multiple myeloma.
Rising healthcare costs are straining patients, payers, and providers, limiting access to care and pressuring the pharmaceutical industry to maintain lower prices. The global pharmaceuticals and healthcare market is projected to grow from $1,245.88 billion in 2021 to $1,924.24 billion by 2032, driven by technological advances and demographic changes. However, regulatory barriers and increasing costs pose significant challenges to market growth.
Investing in cancer research stocks offers both opportunities and risks, as companies in this sector can benefit from breakthroughs in treatment while facing challenges like lengthy drug development and regulatory hurdles. Key players include AbbVie, Bristol-Myers Squibb, and Illumina, which are at the forefront of innovative therapies and technologies. This investment not only aims for financial returns but also supports vital medical advancements in the fight against cancer.
AbbVie Inc.
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J&J reports strong sales growth for Tremfya and Carvykti amid patent challenges
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global pharmaceutical and healthcare market projected to reach 1924 billion by 2032
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investing in cancer research stocks opportunities and risks for investors
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09:00 23.09.2024
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