(Reuters) – Johnson & Johnson announced on Tuesday that it anticipates growth in its turnover of 5% to 6% for the year 2024, driven by strong demand for anti-cancer treatments Darzalex and Carvykti and the good performance of sales of Stelara.

Sales of Stelara, Europe’s flagship psoriasis treatment, are expected to come under pressure from next year due to the expiration of a key patent on the drug. Stelara is also expected to face competition in the United States from 2025.

“We believe we are very well positioned, even despite biosimilars entering the market for Stelara outside the United States in the middle to second half of 2024,” Joseph Wolk, chief financial officer, told Reuters.

The drug’s success comes largely from its use as a treatment for inflammatory bowel disease, Joseph Wolk said.

“When the treatment of a patient with inflammatory bowel disease is successful, neither the patient nor the doctor wants to radically change it,” he added.

J&J said ahead of an investor meeting scheduled for later today that it expects sales at its pharmaceutical unit to grow at an annual rate of 5% to 7% between 2025 and 2030.

According to the group, which plans to launch at least 20 new treatments by 2030, more than 10 of its products have the potential to generate more than $5 billion in sales in a peak year – including new cancer treatments Talvey and Tecvayli.

The company also expects adjusted operating profit of $10.55 to $10.75 (9.75-9.93 euros) per share in 2024, including the 15 cent impact from its recent acquisition of the privately held medical device maker. Laminar.

J&J’s revenue growth forecast for 2024 excludes sales of its COVID-19 vaccine.

The company has focused on its drugs and medical devices businesses since spinning off its consumer health unit earlier this year.

(Reporting by Bhanvi Satija in Bangalore and Patrick Wingrove in New York; Gaëlle Sheehan, editing by Kate Entringer)

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