Drug and consumer products giant Johnson & Johnson (JNJ - Get Report) on Wednesday revealed its plans to boost growth within its Janssen pharmaceutical business over the next five years, including seeking regulatory approval for more than 40 line-extensions of its therapies and treatments currently in development.
At a meeting on Wednesday with industry analysts to review its Janssen pharmaceutical business and discuss its progress and pipeline developments, the company said it is exploring additional regulatory approvals for multiple drugs it is currently working on.
Part of the meeting was to discuss in more detail the company's plans to deliver new medicines. So far this year, Janssen has gained U.S. regulatory approvals for two treatments: Spravato (esketamine) nasal spray for treatment-resistant depression in adults, and Balversa (erdaftinib) for treatment of bladder cancer that has spread or cannot be removed surgically.
Additional medicines will be discussed that have the potential to file or launch by 2023, including four that are new to Johnson & Johnson's pipeline, as well as gene therapy and RNA therapeutics treatments that are in more advanced stages of development, the company said.
"Our pharmaceutical organization has created breakthrough medicines to address some of society's greatest unmet medical needs, resulting in meaningful outcomes and benefits to patients," Johnson & Johnson CEO Alex Gorsky said in a statement. "That progress must continue as we consider the future shape of healthcare."
The discussions with analysts were centered around six key therapeutic-focused areas: immunology, infectious diseases and vaccines, neuroscience, cardiovascular and metabolism, oncology and pulmonary hypertension.
Shares of Johnson & Johnson closed up 0.06% at $136.91 on the New York Stock Exchange.