Japan pharmaceuticals and biotech sector: Apr–Jun results at Johnson & Johnson Quick Note

Research evidence excerpt

Japan pharmaceuticals and biotech sector: Apr–Jun results at Johnson & Johnson Quick Note

Japan pharmaceuticals and Global Markets Research 16 July 2026

biotech sector

EQUITY: JAPAN PHARMACEUTICALS

Research Analysts

Apr–Jun results at Johnson & Johnson Japan pharmaceuticals &

healthcare

Hiroyuki Matsubara, Ph.D. - NSCQuick Note hiroyuki.matsubara@nomura.com

+81 3 6703 1240

Johnson & Johnson: Starting full-fledged sales promotion activity for Icotyde with

aim of accelerating prescription growth

Johnson & Johnson (pharmaceuticals): Johnson & Johnson [JNJ] held its Apr–Jun

earnings call on 15 July. Sales in the innovative medicine segment rose 6.8% y-y to

$16.384bn, with contributions from oncology (up 16.1%) and neuroscience (up 13.4%)

offsetting the impact of generics in immunology (down 4.6%, excludes the impact of

translational currency). (1) Tremfya (IL-23 antibody) sales rose 71.0% to $2.046bn,

benefiting from market share gains in the inflammatory bowel disease (IBD) market. The

company said that IL-23 antibodies (including competitors' products) now account for 58%

of new-patient share in ulcerative colitis and over 50% in Crohn's disease. (2) Icotyde

(psoriasis: IL-23 inhibitor) has surpassed 18,000 cumulative prescriptions since approval,

with physicians appearing to value its efficacy and convenience. Promotional activities

began yesterday, with advertising during events such as the World Cup and the All-Star

Game.

Implications for Japanese companies: (1) The competitive environment for Takeda

Pharmaceutical's [4502] (Buy) Entyvio looks even more inhospitable. In addition to

Tremfya, Abbvie's Skyrizi has entered the market, and growth for Entyvio continues to

slow. The Inflation Reduction Act (IRA) will lower prices for Medicare patients (aged 65