The company beat market estimates for fourth-quarter results today, and unveiled an upbeat forecast for 2024 and beyond on the ramp-up of its vaccines and cancer drugs pipeline, underscoring the benefits of its consumer health unit spin-off.
Tag Archive for: cancer drugs
The drugs, Folotyn and Beleodaq, have already been on the market for nearly a decade or more. They were approved under the U.S. Food and Drug Administration’s accelerated pathway in 2009 and 2014, respectively, for treating a rare form of blood cancer.
With recent high-profile failures, experts say safety concerns and a lack of diversification are hindering the field—but still hold out hope for an approval.
Oncologists are deeply concerned about the limited alternatives to two critical chemotherapy drugs, which are not as effective in treating certain types of cancer and can even be more toxic. This scarcity of backup therapies poses particularly troubling prospects for patients with ovarian, testicular, breast, lung and head and neck cancers.
Johnson & Johnson forecast 2023 profit above Wall Street estimates on Thursday, banking on strong demand for its cancer drugs and a recovery in sales of its medical devices due to an uptick in surgical procedures such as hip and knee replacements.
Experts and analysts warn that the short supply of more than a dozen cancer drugs has reached a crisis level, causing significant anxiety and impacting patient care.
The companies said they will co-develop the candidates DB-1303 and DB-1311 as a combination therapy in solid tumors.
Ravi B. Parikh, M.D., assistant professor in the Department of Medical Ethics and Health Policy and Medicine at the University of Pennsylvania and a staff physician at the Corporal Michael J. Crescenz V.A. Medical Center, discusses the process and how the FDA handles accelerated approval with cancer treatments.
CEO Pascal Soriot said the firm was on a path to deliver at least 15 new medicines this decade. The company also predicted a return to growth in China, one of its key markets, after reporting a second consecutive quarter of growth even as prices remain under pressure.
The annual price of a newly-launched cancer drug in the United States averaged $283,000 last year, a 53% increase from 2017, according to a new report from U.S. Democratic Representative Katie Porter, a consumer bankruptcy law professor running for re-election in California.