Johnson & Johnson expects 14 new blockbusters by the middle of the decade, execs say

Johnson & Johnson recently unveiled its plan to spin out its consumer health business, following in the footsteps of several other drugmakers that have slimmed down to focus on their pharmaceutical units. Now, J&J execs are talking up the prospects of their own pharma business.

Johnson & Johnson expects to become a $60-billion-a-year drugmaker by 2025, execs said Thursday during a pharmaceutical strategy review. Specifically, J&J expects to achieve compound annual revenue growth of at least 5% per year through the middle of the decade, with growth expected every year, Jennifer Taubert, executive vice president, worldwide chairman of pharmaceuticals at J&J, said on the call.