J&J reports 40% Q2 sales jump for Spravato as psychedelic rivals loom

Johnson & Johnson said its depression nasal spray Spravato generated $584 million in worldwide revenue in the second quarter, a 40% increase from a year earlier. The company highlighted the drug as a "key franchise" with potential peak sales exceeding $5 billion.

Spravato, an esketamine‑based treatment approved in 2019 and expanded in early 2025 to a monotherapy indication, remains the only approved therapy for treatment‑resistant depression. Analysts see the strong sales momentum as a positive sign for J&J's neuroscience portfolio.

However, emerging psychedelic candidates such as Compass Pathways' COMP360 are advancing toward market entry. While they are not expected to erode Spravato's sales immediately, they could pose a longer‑term competitive challenge.

The mixed outlook reflects both the current commercial success of Spravato and the looming threat from next‑generation psychedelic treatments, underscoring the importance of monitoring the evolving landscape.