J&J shares fall 3% as oncology sales miss forecasts, while AstraZeneca invests $600M in lung cancer drug

Johnson & Johnson’s stock slipped about 3% on Wednesday even though the company raised its full‑year sales outlook. In its latest quarterly earnings release the firm said revenue in its innovative medicines segment grew 6.8% in the second quarter, driven by several of its cancer and specialty drugs.

The innovative medicines division saw gains from multiple products, including the multiple‑myeloma therapy Darzalex, the CAR‑T cell therapy Carvykti, the immune‑disease drug Tremfya, and the depression treatments Caplyta and Spravato. Based on this performance, J&J now projects total 2026 sales of $100.8 billion to $101.4 billion, a modest increase over its prior range.

Despite the overall growth, J&J’s oncology business fell short of Wall Street expectations. Sales of the prostate‑cancer drug Erleada and the blood‑cancer therapy Imbruvica were lower than analysts had forecast, contributing to the share decline.

In other news, AstraZeneca announced a $600 million investment in a lung‑cancer drug candidate, while Spero Therapeutics reduced its activity in China, reflecting a shift in its strategic focus.