After Johnson & Johnson splits into two companies with one dedicated to pharmaceuticals and medical devices, the company plans to focus on developing drugs for conditions including lung cancer and eye disease, Jennifer Taubert, the company's executive vice president and worldwide chairman of pharmaceuticals, told Bloomberg.
Johnson & Johnson's pharmaceutical business over the next decade will prioritize gene therapies for inherited retinal disease, lung cancer treatments, CAR-T therapies and treatments for conditions linked to auto-antibodies, Ms. Taubert told Bloomberg.
The company plans to focus on pharmaceuticals with the potential to become mega-blockbusters. Its pharmaceutical unit has invested almost $10 billion in research and development this year, Bloomberg reported.
The company expects to have 14 drugs that could bring in more than $1 billion in annual sales through 2025, and five with the potential to bring in more than $5 billion a year, Ms Taubert said, according to Bloomberg.
The company will also evaluate where to scale back research and development investments every two to three years.
Johnson & Johnson will remain interested in infectious disease and vaccines, Ms. Taubert told Bloomberg. It recently hired Penny Heaton, the founding CEO of the Bill and Melinda Gates Research Institute, to lead the team infectious disease and vaccine unit. The drugmaker will look into mRNA technology for vaccines, Bloomberg reported.
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