Each product has the potential to exceed $1 billion in revenue, the company said in a statement.
The company also announced more than 40 line extensions of existing and new medicines.
"Our innovation strategy has delivered transformational products for patients and also created a cycle of success that positions us for continued growth across the entire Johnson & Johnson enterprise," Paul Stoffels, the company's chief scientific officer, said in the statement.
The new drugs will help the stock price, TheStreet.com's Jim Cramer said, but currency concerns remain an issue.
"Recalls are behind them," Cramer said.
"Now they're talking about growth in drugs; that's what's going to get the stock higher," he added. "You do need to see a weaker dollar. It's the most exposed of the big companies to a strong dollar in the currency translation."
Still, Cramer said he likes the stock at these levels, noting, "It's done nothing for a long time."
Shares of Johnson & Johnson were trading Wednesday at 2:46 p.m. EDT at $103.60, down about .35% for the day.
Johnson & Johnson said late-stage products for multiple myeloma, rheumatoid arthritis and psoriasis are expected to drive its growth over the next several years.