Johnson & Johnson Receives FDA Approval For Myeloma
Johnson & Johnson on March 5 said the FDA approved TECVAYLI plus DARZALEX FASPRO for adults with relapsed or refractory multiple myeloma after at least one prior therapy, including a proteasome inhibitor and an immunomodulatory agent. Management said the combination could become a second-line standard for about 40% of relapsing patients by targeting BCMA-expressing cells. JPMorgan also raised JNJ's price target to $250 from $225, keeping a Neutral rating.
Key Points
- 1Announces FDA approval of TECVAYLI plus DARZALEX FASPRO for relapsed or refractory multiple myeloma.
- 2Highlights potential second-line standard for roughly 40% of patients by targeting BCMA-expressing cells.
- 3Affects commercial outlook and investment view; JPMorgan raises JNJ price target to $250.
Scoring Rationale
High clinical and commercial significance with official FDA approval, limited DS relevance outside biotech investing.
Sources
Public references used for this report.
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