BioPharma Dive April 16, 2024
Sales of Tecvayli, broken out by J&J for the first time, surpassed Wall Street’s forecasts, while the “timing of orders” for Carvykti held back growth for the cell therapy.
Dive Brief:
- Sales of Johnson & Johnson’s multiple myeloma medicine Tecvayli more than doubled in the first quarter versus the same period last year, boosting the pharmaceutical company’s oncology business while its cell therapy for the blood cancer, Carvykti, underperformed.
- The first quarter figures released Tuesday by J&J were the first time it has broken out sales of Tecvayli, which was approved in the U.S. in late 2022. The dual-targeting antibody drug brought in $133 million between January and March, above analysts’ estimates.
- Tecvayli’s growth contrasted with Carvykti, sales of...
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