Johnson & Johnson Q3 Report: BCMA CAR-T Sales Reach 2 Billion RMB, 88% Growth

On October 15, 2024, Johnson & Johnson announced its Q3 2024 results: total revenue for the quarter was $22.471 billion, up 5.2% year-on-year; research and development expenses reached $4.952 billion, up 43.7% year-on-year.

From a business perspective, the innovative pharmaceuticals division recorded revenue of $14.580 billion in Q3 2024, a year-on-year increase of 4.9%, driven primarily by strong growth in products like Darzalex (daratumumab), Erleada (apalutamide), and Carvykti (ciltacabtagene autoleucel). Meanwhile, the medical devices division posted revenues of $7.891 billion, growing 5.8% year-on-year.

Regionally, the U.S. remained a key market for Johnson & Johnson. Q3 2024 U.S. revenues stood at $12.9 billion, up 7.6% year-on-year, while international markets generated $9.6 billion in revenue, a year-on-year increase of 2.2%.

Highlights of BCMA CAR-T Therapy Carvykti

A significant highlight in this quarter was the sales performance of Carvykti, a BCMA CAR-T therapy developed in collaboration with Legend Biotech. Carvykti’s Q3 2024 sales amounted to $286 million (about 2 billion RMB), reflecting an 87.7% year-on-year increase. Cumulative sales for the first three quarters reached $629 million (about 4.5 billion RMB), marking an 84.3% growth compared to the same period last year.

Carvykti is a BCMA-targeted CAR-T cell therapy that uses genetically modified chimeric antigen receptors to alter the patient's own T cells to recognize and eliminate cells expressing BCMA.

Regulatory Approvals

On April 15, 2024, the U.S. FDA approved Carvykti for the treatment of patients with relapsed or refractory multiple myeloma. CARVYKTI® is the first and only approved BCMA-targeted therapy for second-line treatment of multiple myeloma patients.

On August 27, 2024, the NMPA (China’s National Medical Products Administration) approved the marketing application for ciltacabtagene autoleucel injection submitted by Legend Biotech, intended for the treatment of relapsed or refractory multiple myeloma in patients who have previously undergone treatment with a proteasome inhibitor and an immunomodulatory agent. This approval makes ciltacabtagene autoleucel the sixth CAR-T therapy to be approved in China and the first and only globally approved BCMA-targeted therapy for second-line treatment of multiple myeloma patients.