<\/p>\n
Johnson & Johnson (JNJ) spent 2025 proving it could lose a multibillion-dollar drug and still grow. Now it wants to show it can keep doing that for years.<\/p>\n
On June 13, the company reported results from a late-stage trial of its blood-cancer drug TALVEY, and the data landed at one of the year’s biggest medical meetings.<\/p>\n
Investors care for a simple reason:<\/p>\n
J&J’s most important growth engine is multiple myeloma, a cancer of the plasma cells in bone marrow. The deeper that franchise runs, the easier it is to replace income loss as older drugs lose patent protection.<\/p>\n
JNJ stock closed at $235.66 on June 15, down about 2% on the day but still near record territory after a strong year.<\/p>\n
What J&J’s MonumenTAL-3 trial actually showed for TALVEY<\/p>\n
The trial is called MonumenTAL-3, and it tested TALVEY, known generically as talquetamab, in patients whose myeloma had returned or stopped responding to earlier treatment.<\/p>\n
J&J reported the results in a June 13 press release, with the full data published the same day in the New England Journal of Medicine.<\/p>\n
Why these numbers matter to investors<\/p>\n
TALVEY was paired with J&J’s older myeloma drug DARZALEX, with or without a third medicine, and the combination beat the current standard of care across the board.<\/p>\n
MonumenTAL-3 results at two years<\/p>\n
Progression-free survival, meaning patients living without the cancer worsening, reached up to 81.3%, versus 51.2% for standard care, according to J&JOverall survival reached up to 89.2%, versus 79.1%The combination cut the risk of disease progression or death by up to 72%<\/p>\n
The data was presented at the 2026 European Hematology Association Congress in Stockholm, where doctors called the regimen a potential new standard of care for earlier-stage relapsed patients, according to OncLive.<\/p>\n
Johnson & Johnson’s multiple myeloma franchise has become the company’s main growth engine as older blockbusters lose patent protection.<\/p>\n
Bloomberg / Getty Images<\/p>\n
Why moving TALVEY to earlier patients expands J&J’s myeloma reach<\/p>\n
TALVEY first won U.S. approval in August 2023, but only for patients who had already tried at least four prior treatments. That is a small, late-stage group.<\/p>\n
MonumenTAL-3 tested the drug far earlier, in patients with just one prior line of therapy. <\/p>\n
That matters because earlier-line use means a much larger pool of eligible patients and more years of treatment per patient. <\/p>\n
J&J has already filed with U.S. and European regulators to expand the label.<\/p>\n
Related: Johnson & Johnson bets $1 billion on hard-to-treat cancer<\/p>\n
The drug also works differently from many rivals. <\/p>\n
TALVEY hits a target called GPRC5D, while most competing therapies aim at a different target called BCMA. According to Oncology News Central, doctors at EHA noted that many patients relapse after BCMA drugs, so a separate target gives J&J a second shot at the same patients.<\/p>\n
How TALVEY fits J&J’s plan to replace Stelara income<\/p>\n
J&J lost U.S. patent protection on Stelara, its longtime immunology blockbuster, in 2025. <\/p>\n
Biosimilar copies from Amgen, Teva and others flooded in, and Stelara sales fell 41% to $6.1 billion last year from $10.4 billion in 2024, FiercePharma reported.<\/p>\n
That kind of drop usually drags a drugmaker’s whole top line down. <\/p>\n
However, J&J avoided it by leaning on oncology, and its myeloma drugs did the heavy lifting.<\/p>\n
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DARZALEX alone generated $14.4 billion in 2025, J&J’s single biggest seller. <\/p>\n
The full myeloma franchise brought in roughly $4 billion in the first quarter of 2026. <\/p>\n
CEO Joaquin Duato has set a target of $50 billion in oncology sales by 2030, a goal he has said rests largely on multiple myeloma.<\/p>\n
That is why a TALVEY win counts. <\/p>\n
The biggest risk to the myeloma story is heavy reliance on DARZALEX, which itself faces patent questions later this decade. A deep bench of newer drugs spreads that risk out.<\/p>\n
What still needs to happen before TALVEY moves JNJ stock<\/p>\n
Strong trial data is a starting point, but there’s still more that needs to go right. <\/p>\n
Things that have to fall into place before TALVEY significantly influences J&J’s revenue include:<\/p>\n
Regulators in the U.S. and Europe need to approve the earlier-line use J&J has applied forDoctors need to adopt the regimen over options they already knowThe drug’s side effects have to stay manageable in real-world use<\/p>\n
That last point matters. <\/p>\n
TALVEY carries warnings for cytokine release syndrome, a strong immune reaction, plus oral and skin side effects and weight loss, according to its prescribing information. <\/p>\n
The trial reported these were mostly low grade, but they influence whether doctors choose to adopt the drug.<\/p>\n
There is also competition:<\/p>\n
Rival drugmakers including Merck, Bristol-Myers Squibb, and Pfizer are crowding into oncology, and the myeloma space specifically.<\/p>\n
What JNJ stock investors can take from this<\/p>\n
For investors, the myeloma franchise that carried J&J through the Stelara cliff has room to keep growing, with TALVEY now able to reach more patients earlier in treatment.<\/p>\n
Morgan Stanley recently argued J&J looks positioned to grow through Stelara’s decline rather than simply survive it, and data like this supports that view.<\/p>\n
The stock still trades like a defensive blue chip, backed by 63 straight years of dividend increases and a yield around 2.3%. <\/p>\n
The bull case is that steady oncology wins gradually turn it into a stock investors value as a grower, not just a safe place to hide. <\/p>\n
That shift depends on J&J stacking up more breakthroughs like this one.<\/p>\n
Related: Eli Lilly sends strong message on vaccine strategy<\/p>\n
#JampJ #drops #key #cancer #trial #results #Wall #Street #eyes #stock<\/p>\n","protected":false},"excerpt":{"rendered":"
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