Weak consumer sales and flat medical device and diagnostics sales didn't stop Johnson & Johnson from trouncing analyst estimates Monday--or from raising its guidance for the year. A lineup of hot new meds powered the drug giant's first-quarter performance, helping pharma sales climb nearly 11% to $7.5 billion.
Two-thirds of new drugs fall short of expectations their first year on the market and continue to fall short after that. But McKinsey & Co. consultants found that good launches are very, very good. What makes the difference? The consulting firm took a close look at 60 different drug launches to find out.
Soon after Xtandi hit the market last year, analysts were figuring that the prostate cancer drug would help pump up that market to $9.1 billion by 2021. And now, the drug has shown success in a Phase III trial eyeing Xtandi as a prechemo treatment for advanced prostate cancer.
Noting that Japan is one of the world's fastest-growing pharmaceutical markets, Marc Dunoyer, AstraZeneca's executive vice president of global products and portfolio strategy said: "This deal is a strong strategic fit for AstraZeneca, reinforcing both our focus on oncology as a core therapy area and Japan as one of our key growth drivers."
Herewith we bring you our Top 15 Drug Launch Superstars. Some of them will be obvious to anyone who follows the pharma business. They certainly were obvious to us. But choosing the rest was a challenge--one we weren't exactly expecting, based on previous experience. Read the full report >>
Johnson & Johnson's sales surged by more than 8%, thanks to some strong growth in new drugs and a leap in international sales, but supply problems in OTC drugs continued to drag on consumer health sales, and ongoing litigation costs took a bite out of earnings.
Johnson & Johnson built its R&D rep around blockbuster development deals. Now the pharma giant's drug development arm wants the world to know that there's a comprehensive, global pipeline strategy in play that will deliver more than 10 new product applications over the next 4 years. And new drug development efforts in China and Japan are growing to rival the work it does in the U.S. and Europe.
Drug names starting with an X or a Z may be hard to pronounce but that is really the last thing that drugmakers consider when coming up with new names. They want something that is memorable.
Johnson & Johnson's ($JNJ) earnings surpassed analyst expectations. Its prescription drug sales were up 6.8%, helped by leaps forward in cancer drugs and anti-inflammatories. Its new prostate cancer drug Zytiga fell just a tad short of blockbuster status, and that's without its newly approved label expansion.
Chalk up an expanded use, and so an expanded market, for Zytiga, Johnson & Johnson's hot but pricey prostate cancer drug.