J&J’s $5bn projects have much to prove

Johnson & Johnson has an ambitious goal of reaching $60bn in pharma sales by 2025, which would be an $8bn increase over the 2021 figure. And this is without any impact from future deals – something that J&J is keen to pursue, with $34bn in cash at its disposal.

Yesterday the group highlighted five projects which it believes could be worth $5bn each. At present this revenue target looks like a stretch for most of these assets.

One of the supposed mega-blockbusters-to-be is milvexian, a novel anticoagulant partnered with Bristol Myers Squibb that recently disappointed in stroke prevention. The mid-stage flop raised questions about milvexian's chances of getting to market, let alone whether it can be as successful as likes of Eliquis and Xarelto.