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Johnson & Johnson's Cancer Therapy Received Approval from FDA

Industry: Healthcare
Current: Product Indicators

Johnson & Johnson's new therapy will be used to treat patients with multiple myeloma, a type of blood cancer.
J&J's Teclistamab will be available under the brand name "Tecvayli" beginning November 4, 2022
The cost of Tecvayli therapy will range between $355,000 and $395,000 for a nine-to-ten-month course

Johnson & Johnson Developed Innovative Therapy for Blood Cancer Patients

Johnson & Johnson's cancer therapy is the first of its kind to be approved for multiple myeloma. In August 2022, the company also received conditional approval from the European drug regulating authorities. The alternative treatments available for multiple myeloma cause recurrence of symptoms, creating an unexplored opportunity for healthcare businesses to find a solution. Tecvayli therapy was developed specifically for patients experiencing reversion of symptoms after receiving other treatments, opening up new opportunities for the company to provide better solutions to a larger number of patients.

Johnson & Johnson is Investing Heavily in Research & Development to Develop Advanced Medicines

Johnson & Johnson invests significantly in research and development, allowing the company to create innovative solutions for cancer patients. Johnson & Johnson increased its research and development spending from $12.2 billion in 2020 to $14.7 billion in 2021. Growing R&D spending reflects the company's strategy to develop differentiated offerings, enabling it to gain a competitive advantage in the healthcare industry.

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