Johnson & Johnson (J&J) has reported net earnings of $2.69bn, or $1.11 per diluted share, for the third quarter of 2024 (Q3 2024), a 37.5% decline compared to $4.3bn, or $1.69 per diluted share, for the respective quarter in 2023.
The US-based company reported total sales of $22.47bn for Q3 2024, a 5.2% rise compared to $21.35bn for the same period in the previous year.
Its Innovative Medicine division reported sales of $14.58bn for Q3 2024, a 4.9% increase compared to $13.89bn for the same quarter in 2023.
The MedTech unit reported sales of $7.89bn for Q3 2024, a 5.8% rise compared to $7.45bn for the corresponding quarter in the previous year.
J&J chairman and CEO Joaquin Duato said: “Johnson & Johnson’s strong results in the third quarter reflect the unique breadth of our business and commitment to delivering the next wave of healthcare innovation.
“During the quarter, we advanced our pipeline with regulatory approvals for Tremfya and Rybrevant, submitted an IDE for our general surgery robotic system, Ottava, and launched Velys Spine and Shockwave E8 IVL Catheter, further strengthening our confidence in our near-and long-term growth targets.”
In a separate development, J&J announced positive results for its investigational drug nipocalimab from the Phase 2/3 Vibrance-MG study.
The Phase 3 study enrolled adolescents aged 12 to 17 years with generalised myasthenia gravis (gMG), who tested positive for acetylcholine receptor (anti-AChR) antibodies.
In the study, participants were treated with nipocalimab plus standard of care (SOC).
The participants achieved sustained disease control as measured by immunoglobulin G (IgG) reduction from baseline over 24 weeks, which is the primary endpoint.
The study also met the secondary endpoints of improvement in MG-ADLb and QMGc scores.
Johnson & Johnson Innovative Medicine neuroscience executive medical director Sindhu Ramchandren said: “The Vibrance-MG data add to the expanding clinical profile of nipocalimab and highlight its potential for adolescents living with gMG who are in need of new treatments.
“We are committed to developing innovations for autoantibody-driven neurological diseases, like gMG, with the aim of transforming the lives of people living with these conditions.”
