Johnson & Johnson

DARZALEX grew 17.8% to $4 billion with strong share gains. CARVYKTI achieved $600 million with 57.4% growth. RYBREVANT plus LAZCLUZE grew 80.5% to $257 million. TECVAYLI grew 30.1% and TALVEY grew 72.8%. FDA approved TECVAYLI plus DARZALEX FASPRO for relapsed or refractory multiple myeloma.

Abiomed delivered 14.4% growth with continued strong Impella adoption. Shockwave grew 18.1% driven by coronary and peripheral products. Electrophysiology grew 9.5% driven by VARIPULSE and commercial execution. MedTech overall grew 4.6% operationally.

Adjusted pretax operating margin declined from 36.6% to 32.5% driven by heavier investment in new launches, tariff impact on MedTech cost of goods, unfavorable product mix and certain favorable onetime items in 2025. Full-year margin guidance maintained at 50bp improvement.

Operational sales guidance raised to 5.9%-6.9% midpoint $100.2 billion. Adjusted EPS guidance raised $0.02 to a range of $11.30 to $11.50. Management reaffirmed line of sight to double-digit growth by end of the decade. Announced December 8 Enterprise business review.