Johnson & Johnson Plans To File For Approval 10 Potential Blockbusters In Next 4 Years

Johnson & Johnson said Wednesday that it, along with its Janssen Pharmaceutical Companies, plans to file for regulatory approval 10 new potential blockbuster drugs between this year and 2021. The company said it also plans more than 50 line extensions of existing and new medicines through 2021. "With a growing core business of differentiated medicines and a strong line-up of innovative products expected to launch or file over the next five years, we are leading the industry in advancing the health of patients around the world," said J&J Chief Executive Alex Gorsky. The company is hosting an analyst meeting on Wednesday. The stock, which was still inactive in premarket trade, has rallied 11% year to date, while the SPDR S&P Pharmaceuticals ETF has climbed 8.5% and the Dow Jones Industrial Average has advanced 6.2%.

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