Johnson & Johnson and Legend Biotech’s Carvykti to hit blockbuster status in 2025

Johnson & Johnson (NYSE: JNJ) and Legend Biotech (NASDAQ: LEGN) are making a $150 million bet on the future of cell therapy, with plans to build a new manufacturing facility in Belgium aimed at doubling output of their cancer treatment, Carvykti.

The site, expected to be operational by late 2025, is designed to ease supply bottlenecks that have held back the commercial rollout of the therapy since its U.S. approval in early 2022. Carvykti, a CAR-T treatment targeting B-cell maturation antigen, was initially approved for patients with relapsed or refractory multiple myeloma (a cancer of the bone marrow) after four prior treatments. But in a major boost to its commercial prospects, the FDA in April 2024 broadened the drug’s label to include patients who have received just one prior line of therapy—expanding the eligible patient population.

Carvykti sales reached $963 million in 2024, just under the $1 billion “blockbuster” threshold. Analysts now forecast revenues of $1.7 billion in 2025, with peak global sales estimated at $7.2 billion by 2030, according to Visible Alpha consensus.

Johnson & Johnson reported first-quarter sales of $21.9 billion on Tuesday, April 15—a +2.4% year-on-year increase. Q2 sales are estimated at $22.9 billion.