Immunology, Neuroscience Step Up as Key Growth Engines for J&J

Johnson & Johnson JNJ is one of the key pharmaceutical players in the oncology segment, with its Oncology segment comprising around 27% of total revenues and 42% of its Innovative Medicine segment sales. However, J&J also boasts a strong presence in the immunology space and is gradually strengthening its position in the neuroscience area. Both these segments are gradually becoming key contributors to J&J’s top-line growth outside of oncology.

While Immunology accounted for 26% of the Innovative Medicine segment sales in 2025, Neuroscience accounted for around 13%. Let's discuss each segment separately.

Immunology: J&J’s New Drugs & Candidates Offset Stelara LOE

Sales in J&J’s Immunology segment declined around 12% in 2025 due to the loss of exclusivity (“LOE”) of its multi-billion-dollar product, Stelara. Stelara sales declined around 42% in 2025. However, J&J’s other key immunology drug, Tremfya, is partially offsetting the decline. Tremfya is now the fastest-growing IL-23 therapy in the United States. Its sales rose around 41% in 2025, with global full-year sales accelerating to more than $5 billion in a year for the first time. Tremfya’s sales growth is being drivenby share gains across all indications, particularly the inflammatory bowel disease (IBD) indications and strong market growth. J&J is expecting Tremfya to exceed $10 billion in peak-year sales. Sales of another key drug, Simponi/Simponi Aria, rose around 22% to $2.7 billion.

Meanwhile, J&J also has some new products and key pipeline candidates in immunology, which can drive growth in the long term.

In 2025, it gained approval for Imaavy (nipocalimab) for treating generalized myasthenia gravis. Nipocalimab is in mid-and late-stage development for rare autoantibody-driven diseases and has the potential to create a pipeline in a product.

Regulatory applications were recently filed for another key candidate, Icotyde/icotrokinra, for moderate-to-severe plaque psoriasis with an approval expected later this year. J&J believes that Icotyde/icotrokinra has the potential to revolutionize the treatment of plaque psoriasis with a once-a-day pill. JNJ-4804 is another key candidate in its immunology pipeline, which is in mid-stage development for Crohn’s disease, ulcerative colitis and psoriatic arthritis. Both Icotyde and JNJ-4804 have blockbuster potential.

J&J’s Neuroscience Unit is Fast Picking Up?

Sales in J&J’s Neuroscience segment rose 10% in 2025, mainly driven by rising contributions from its new products like Caplyta (added from last year’s acquisition of Intra-Cellular Therapies) and Spravato.

Caplyta generated sales of $700 million in 2025. Since U.S. approval for the major depressive disorder (MDD) indication in November 2025, J&J said that Caplyta has seen its highest-ever new patient start volumes across all indications.

Spravato recorded sales of $1.7 billion in 2025, up 57% year over year,driven by strong demand trends.

Most of the drugs discussed above, Imaavy, Caplyta and Icotyde, have the potential to deliver peak sales of $5 billion.

In all, while Stelara’s loss of exclusivity has created a near-term headwind, J&J’s expanding immunology portfolio and fast-growing neuroscience franchise are helping rebalance its growth mix beyond oncology. With Tremfya gaining momentum, Spravato and Caplyta accelerating and multiple late-stage pipeline candidates with blockbuster potential, these segments are poised to play an increasingly central role in supporting the company’s long-term top-line trajectory.

Competition in the Immunology & Neuroscience Space

The companies that have significant immunology drug portfolios and pipeline are AbbVie, Eli Lilly LLY, Amgen, Sanofi and Pfizer PFE. In the Neurosciences space, the key companies are Biogen, Lilly and Pfizer.