TREMFYA’s Phase 3b Psoriatic Arthritis Data Could Be a Game Changer for Johnson & Johnson (JNJ)

• Johnson & Johnson recently announced that new Phase 3b APEX study data presented at the Inflammatory Skin Disease Summit 2025 showed TREMFYA® continued to reduce signs and symptoms of active psoriatic arthritis and inhibit progression of structural joint damage for 48 weeks.
• This positive clinical evidence supported Johnson & Johnson's supplemental Biologics License Application to the FDA, aimed at updating TREMFYA®'s label to reflect benefits in preventing structural damage in adult patients with active psoriatic arthritis.
• We'll look at how TREMFYA®'s strong Phase 3b results could impact Johnson & Johnson’s outlook in immunology and innovative medicines.

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Johnson & Johnson Investment Narrative Recap

For investors to support Johnson & Johnson, confidence in the company's ability to drive growth through its innovative medicine pipeline is key, especially as risks tied to biosimilar competition for STELARA remain high. The latest TREMFYA® Phase 3b data strengthens the immunology portfolio and supports short-term revenue catalysts, but does not immediately offset the revenue pressure from STELARA’s patent expiry or ongoing legal liabilities. The most pivotal near-term development remains regulatory decisions around label expansions for therapies like TREMFYA®.

Among recent announcements, the November 2025 positive Phase 3b results for TREMFYA® and the related supplemental Biologics License Application submission to the FDA are directly relevant, as they reinforce Johnson & Johnson’s focus on next-generation therapies to bolster its immunology segment and mitigate anticipated declines from STELARA’s loss of exclusivity. These steps reflect the company’s push to demonstrate clinical and commercial durability of its pipeline in key disease areas.

By contrast, investors should also be aware that even with expanding indications, the persistent risk of rapid biosimilar uptake in the STELARA franchise could weigh more heavily than expected on...

Read the full narrative on Johnson & Johnson (it's free!)

Johnson & Johnson's outlook anticipates $104.1 billion in revenue and $22.9 billion in earnings by 2028. This corresponds to a forecasted 4.7% annual revenue growth and a marginal $0.2 billion increase in earnings from the current $22.7 billion.

Uncover how Johnson & Johnson's forecasts yield a $200.82 fair value, a 3% downside to its current price.

Exploring Other Perspectives

Twenty-one Simply Wall St Community members independently estimate Johnson & Johnson's fair value between US$143.62 and US$384.12 per share. While pipeline advances are considered a catalyst for future growth, the wide gap in opinions highlights significant debate about the company’s risk and reward profile, see what drives those differences for more context.

Explore 21 other fair value estimates on Johnson & Johnson - why the stock might be worth 31% less than the current price!

Build Your Own Johnson & Johnson Narrative

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• A great starting point for your Johnson & Johnson research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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