Johnson & Johnson Announces it Will File for Ten New Drugs by 2019

Johnson & Johnson (JNJ) announced its Janssen Pharmaceutical segment will file for regulatory approval of at least ten new drugs by 2019. Each of the drugs will have the potential to exceed $1 billion in revenue. The company also announced more than 40 line extensions of existing and new medicines. Johnson & Johnson said late-stage products for multiple myeloma, rheumatoid arthritis and psoriasis are expected to drive growth over the next several years. This focus on new drugs will be good for Johnson & Johnson's share price, according to Jim Cramer, but he warns he's still concerned about currency. He calls Johnson & Johnson the 'most exposed of the big drug companies to a strong dollar.'