JNJ stock was trading at $170.71 at close: 04:00 PM EDT
The FDA has given Tecvayli expedited approval is a method of treatment for adults with relapsed or resistant multiple myeloma following four or more prior lines of therapy, according to a Tuesday announcement from Johnson & Johnson’s (NYSE:JNJ) Janssen Pharmaceutical division.
The teclistamab-cqyv therapy, which is injected under the skin, is Janssen’s fourth drug approved by the FDA to treat multiple myeloma.
Based on information from the pivotal Phase 2 MajesTEC-1 clinical study for TECVAYLI, which showed a 62% overall response rate (ORR) in MM patients who had had three or more prior lines of therapy, the decision was made. Moreover, 28% of patients experienced a complete response (CR) or better. In the multi-center experiment with an open label.
Tecvayli’s clinical benefit in the confirmatory trial is a condition of the speedy approval (s).
A boxed warning about Cytokine Release Syndrome (CRS) dangers and certain neurotoxicities comes with the treatment.
The FDA granted approval for people with R/R multiple myeloma after four or more prior lines of therapy. Carvykti is a drug that Legend Biotech (LEGN) and JNJ worked on together. It was approved at the beginning of this year.
J&J stock and earnings in Q3
In the third quarter, J&J’s earnings and sales were better than what was expected, so the company did better than expected. Unit sales in the pharmaceutical sector performed well. The MedTech and consumer sectors both saw an increase in sales. Although the U.S. dollar was strengthening, currency headwinds caused their sales growth to decline by 6% in the quarter. Due to anticipated currency headwinds, J&J modestly reduced its annual sales outlook. The range of its adjusted earnings guidance was also narrowed.
Johnson & Johnson (NYSE:JNJ) has all the characteristics of a traditional dividend stock, and it’s easy to understand why. The business has been around for more than 100 years and was one of the first in the healthcare field. Because people require healthcare regardless of the economy’s situation, that industry is typically recession-proof.
If It Breaks Through This Point, Johnson & Johnson Stock Will Take Off
Featured Image – Megapixl © Mesteban100
Author Jowi Kwasu 
