Johnson & Johnson (NYSE:JNJ) Q2 2023 Earnings Call Transcript

In TECVAYLI, you see also a clear improvement of note. When we look at the TECVAYLI launch, align data with DARZALEX in the addressable patient population. TECVAYLI it’s having a faster introduction. And finally, SPRAVATO, which is doing well. And now we see SPRAVATO as a $1 billion plus product, and you’re seeing the results this quarter also reaching close to $170 million. If we look at our pipeline and the products of the pipeline that are going to impacting this period, we are expecting the PDUFA date of talquetamab, our GPRC5D CD3 bispecific antibody, which is going to give another option in the treatment of multiple myeloma. And we continue to progress and execute well in some of the key products in our pipeline. I commented on RYBREVANT and the combination of Lazertinib, as you know.

We received fast track destination for the three key indications of milvexian, our Factor XI oral anticoagulant that we are working in collaboration with Bristol-Myers Squibb. We presented very positive data about TAR-200 in non-muscle invasive bladder cancer in meeting in the American Urological Association. And we also — when it comes to CARVYKTI, we were very pleased to show the data on CARTITUDE-4. We are filing the BLA now, both in Europe and in the U.S. And we are expecting to show you some data on nipocalimab in rheumatoid arthritis. We also have already presented in hemolytic disease of the features of the new wall. So in every angle of the products that we highlighted as the core products of our pipeline, we are executing well. Plus we recently presented in the World Congress of Dermatology our data in our oral IL-23 receptor antagonist peptide, which show great efficacy in psoriasis.

And we have announced plans to continue developing into psoriasis and also a Phase 2 study in ulcerative colitis. So overall, when I look at the picture for 2025, we have increased confidence based on our portfolio, in our new product launches and how we are executing on our pipeline. But now I would like to look even beyond ‘25 if you allow me, Chris, because 2025 is very close. It’s only three years from now. So what I think is what you are seeing with this renewal of our portfolio is a very strong position for Johnson & Johnson in Pharmaceuticals beyond 2025. And that’s something that we need to highlight, and I think it’s important for everybody to recognize. This is going to put us in a great position beyond 2025.

Erik Haas: Turning to the question with respect to the number of claimants. Good and important question. The most recent update comes from the hearing on the motions to dismiss that finished on June 30th. And I would refer you to the post-trial findings of fact and conclusions in law that were filed last night that really detailed the evidentiary record that was elicited during the hearing. Based upon that testimony that was elicited and the evidence that went in, we are now looking at approximately 60,000 claimants in support or lawyers who represent 60,000 claimants in support of the plan and lawyers who represent about 40,000 claimants in opposition. So the numbers right now show that the vast majority of claimants support the proposed plan. Based upon the testimony during that hearing from the lawyers that support those claimants, we are confident that, that support will not waver. And we do anticipate that additional support will be coming forward.

Operator: Thank you. Our next question is coming from Trung Huynh from Credit Suisse. Your line is now live.

Trung Huynh: Oh, hi. Thanks for the questions. Just two if I may. So just on — thanks for your thoughts on the talc outcome. Should we just expect any more similar suits like the one in Alameda in the near future? And then secondly, do you know just a clarification on MARIPOSA if another interim passed for MARIPOSA? Thanks very much.