Will Breakthrough Multiple Myeloma Data and FDA Nod Redefine Johnson & Johnson's (JNJ) Oncology Narrative?

• Johnson & Johnson has recently reported Phase 3 data showing that TECVAYLI plus DARZALEX FASPRO cut the risk of disease progression or death versus standard regimens in relapsed or refractory multiple myeloma, earning US FDA Breakthrough Therapy Designation and review of a supplemental Biologics License Application.
• Alongside strong follow-up results for CARVYKTI and promising bladder cancer data, these findings reinforce J&J’s push into earlier cancer treatment lines with complex but manageable safety profiles.
• We’ll now examine how Breakthrough Therapy–backed multiple myeloma results could reshape Johnson & Johnson’s oncology-led growth narrative and risk profile.

Trump has pledged to "unleash" American oil and gas and these 22 US stocks have developments that are poised to benefit.

Johnson & Johnson Investment Narrative Recap

To own Johnson & Johnson today, you need to believe in its shift toward higher value Innovative Medicine and MedTech, with oncology a key growth engine, while accepting ongoing legal and patent risks. The TECVAYLI plus DARZALEX FASPRO Phase 3 data and Breakthrough Therapy Designation reinforce that oncology focus, but they do not materially change the near term risk around STELARA exclusivity and related pricing and antitrust litigation.

The TECVAYLI plus DARZALEX FASPRO news sits alongside updated CARVYKTI results in relapsed or refractory multiple myeloma, together underscoring how much of J&J’s near term story now hinges on oncology execution. As these newer therapies move earlier in treatment lines, they become more important in offsetting any pressure from STELARA and other maturing immunology assets, even as investors keep an eye on complex safety profiles and reimbursement decisions.

However, against this solid oncology progress, investors still need to watch the evolving STELARA class action over alleged monopoly practices and its potential impact on...

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

Johnson & Johnson's narrative projects $104.1 billion revenue and $22.9 billion earnings by 2028. This requires 4.7% yearly revenue growth and about a $0.2 billion earnings increase from $22.7 billion today.

Uncover how Johnson & Johnson's forecasts yield a $202.54 fair value, in line with its current price.

Exploring Other Perspectives

Twenty two members of the Simply Wall St Community currently see J&J’s fair value anywhere between about US$145 and US$384 per share, highlighting very different expectations. As you weigh those views, remember that ongoing talc and STELARA related legal risks sit alongside oncology trial momentum as key drivers of how the business could perform over time.

Explore 22 other fair value estimates on Johnson & Johnson - why the stock might be worth 30% less than the current price!

Build Your Own Johnson & Johnson Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Johnson & Johnson research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Johnson & Johnson research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Johnson & Johnson's overall financial health at a glance.

Curious About Other Options?

Our daily scans reveal stocks with breakout potential. Don't miss this chance:

• AI is about to change healthcare. These 30 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.
• We've found 12 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.
• Uncover the next big thing with financially sound penny stocks that balance risk and reward.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com