Johnson & Johnson projects about $100.5 billion in 2026 revenue amid litigation and patent headwinds

Johnson & Johnson is projecting that its revenue will climb to about $100.5 billion at the midpoint in 2026, which would represent a year over year increase of 6.7%. Last year, the company's net sales grew 6% year over year to $94.2 billion, while its adjusted earnings per share rose 8.1% to $10.79. The company is also dealing with talc-related lawsuits, the loss of patent exclusivity for Stelara in the U.S., and government-imposed drug price negotiations in the U.S.

Just last year, Johnson & Johnson lost patent exclusivity for Stelara, an immunosuppressant, in the U.S., after the therapy had suffered the same fate in Europe in 2024. Stelara hit peak sales of $10.9 billion in 2023, which accounted for almost 13% of the company's top-line that year. The company is still dealing with thousands of lawsuits from plaintiffs who allege that its talc-based products gave them cancer.

Following the completion of the Kenvue separation, Johnson & Johnson has effectively transitioned into a pure-play Innovative Medicine and MedTech company. The company's pharmaceutical unit spans many therapeutic areas, including immunology, oncology, infectious diseases, and neuroscience, and it also boasts a strong medtech business, marketing products across multiple niches. According to recent financial disclosures, the company is focusing its R&D budget on oncology, immunology, and robotic surgery platforms.

Johnson & Johnson maintains its status as a Dividend King, having increased its dividends for 63 consecutive years. One of the best pieces of evidence for its financial position is the company's AAA rating from S&P Global.