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Key Takeaways
- Johnson & Johnson made a pair of announcements Tuesday: Federal Drug Administration (FDA) approval of a new lung cancer treatment and an acquisition.
- The FDA approved a pair of drugs as a form of chemotherapy-free lung cancer treatment after a Phase 3 clinical trial showed the drugs reduce the risk of death or disease progression by 30% compared with the current standard of care.
- Johnson & Johnson also announced the $1.7 billion acquisition of privately-held V-Wave, expanding the company’s offerings in cardiovascular health.
Johnson & Johnson (JNJ) on Tuesday announced Food and Drug Administration (FDA) approval of a two-drug, chemotherapy-free treatment plan for certain types of lung cancer, along with an acquisition expanding its offerings to treat heart disease.
The drugmaker said the FDA has approved Rybrevant plus Lazcluze to treat certain forms of lung cancer, which the company said is the first chemotherapy-free treatment to perform better than the current standard of care in a clinical trial. The combination of the two drugs reduced the risk of disease progression or death by up to 30% in a Phase 3 trial compared with osimertinib, brand name Tagrisso, the current treatment plan.
“Having witnessed firsthand the remarkable evolution in lung cancer treatment, this profoundly important milestone brings a novel therapeutic approach to patients and their families,” lung cancer survivor and patient advocacy group EGFR Resisters co-founder Jill Feldman said.
Johnson & Johnson Acquires V-Wave, Expands Heart Health Footprint
Johnson & Johnson also announced the acquisition of V-Wave, a privately held company that develops treatments for heart failure, for an upfront payment of $600 million along with “additional regulatory and commercial milestone payments” up to $1.1 billion, for a total potential value of up to $1.7 billion.
“We recognize the importance of identifying more diverse and effective treatments for heart failure, and our recent track record demonstrates our focus on accelerating our impact on the most urgent and pressing unmet needs,” Johnson & Johnson MedTech Chairman Tim Schmid said. V-Wave will join the company as part of Schmid’s group.
The deal is the latest cardiovascular-related acquisition from Johnson & Johnson, which has spent billions expanding its capabilities in the space so far this year.
Johnson & Johnson shares were 0.4% higher at $160.34 Tuesday afternoon. They are up about 2% so far in 2024.