JOHNSON & JOHNSON
JNJ evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for JNJ—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · JNJ
Johnson & Johnson is a diversified healthcare company operating in Innovative Medicine and MedTech, with a strong financial profile and a pipeline spanning oncology, immunology, neuroscience, and medical devices.
Key risk: Biosimilar competition for STELARA
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 28, 2026.
Tracking 42 clinical trials · 3 catalysts for JOHNSON & JOHNSON.
Johnson & Johnson is a diversified healthcare company operating in Innovative Medicine and MedTech, with a strong financial profile and a pipeline spanning oncology, immunology, neuroscience, and medical devices.
- Cash & equivalents of $20,422M, total revenue of $25,310M, net income of $5,534M, shareholders' equity of $81,544M, and total debt of $49,036M as of 2026-06-28 [sec].
- The company has 28 Innovative Medicine products and MedTech platforms with >$1B in annual sales, and has delivered ~$20B in free cash flow [sec · filed 2026-03-11].
- Johnson & Johnson has 63 consecutive years of dividend increases and has invested ~$50B in R&D and inorganic innovation since January 2024 [sec · filed 2025-03-12].
- The Innovative Medicine segment focuses on Oncology, Immunology, Neuroscience, Pulmonary Hypertension, Infectious Diseases, and Cardiovascular/Metabolism [sec_mda · as of 2026-02-11].
What works
- Strong financial foundation with $20.4B cash, $81.5B equity, and consistent free cash flow generation of ~$20B, supporting a 63-year dividend growth streak [sec · filed 2026-03-11] [sec].
- Diversified portfolio across Innovative Medicine and MedTech with 28 products/platforms exceeding $1B in annual sales, reducing reliance on any single therapeutic area [sec · filed 2026-03-11].
- Significant R&D investment (~$50B since Jan 2024) and 27 Innovative Medicine regulatory approvals in major markets, indicating a robust innovation pipeline [sec · filed 2025-03-12].
- Recent acquisition of Intra-Cellular Therapies (CAPLYTA) and growth in Neuroscience (14.6% operational growth) and SPRAVATO show momentum in high-growth segments [sec_mda · as of 2025-10-22].
What to weigh
- Intense competition across all product lines, requiring substantial R&D investment and facing risks from competitors' more effective or lower-cost products [sec_mda · as of 2026-02-11].
- Biosimilar competition for STELARA is expected to impact sales, with launches in Europe and the U.S. anticipated in 2025 [sec_mda · as of 2025-07-24].
- Product development and regulatory approval are inherently uncertain; only a few R&D programs result in commercially viable products [sec_mda · as of 2026-02-11].
- The company faces ongoing patent litigation and intellectual property challenges that could affect product exclusivity and revenue [sec_mda · as of 2026-02-11].
From the filings
Quoted directly from source documents.
The company has 28 products/platforms with >$1B in annual sales.
“28 Innovative Medicine products & MedTech platforms >$1 billion in annual sales”
SEC filings · March 11, 2026
Biosimilar competition for STELARA is expected to impact sales.
“the Company expects continued launches of biosimilar versions of STELARA in Europe and the United States in 2025 which will impact the Company's sales of STELARA.”
SEC MD&A · July 24, 2025
The company competes intensely on innovation and cost-effectiveness.
“The Company's businesses compete with companies of all sizes on the basis of cost-effectiveness, technological innovations, intellectual property rights, product performance, real or perceived product advantages, pricing and availability and rate of reimbursement.”
SEC MD&A · February 11, 2026
Catalyst timeline
- 2026-09-30 · Phase2_Topline · nexicart-2 — Phase 2 Readout: nexicart-2 — Topline data from the Phase 2 study of nexicart-2 will provide early efficacy and safety signals for this cell therapy candidate.
- 2028-06-30 · Phase3_Topline · nbtxr3 — Phase 3 Topline: A Phase 3 Study of NBTXR3 Activated by Investigator's Choice of Radiotherapy Alone or Radiotherapy i — Phase 3 results for NBTXR3, a radioenhancer, will assess its potential to improve outcomes in solid tumors when combined with radiotherapy.
- 2029-03-31 · Phase3_Topline — Phase 3 Topline: Bumetanide vs. Furosemide for Adults Hospitalized With Cirrhosis: the BUFF Trial — Topline data from the BUFF trial will compare bumetanide and furosemide in hospitalized cirrhosis patients, addressing a key unmet need.
Risks & what to watch (4)›
Key risks
- Biosimilar competition for STELARA — Expected launches of biosimilars in Europe and U.S. in 2025 will reduce STELARA sales [sec_mda · as of 2025-07-24].
- Product development uncertainty — Only a few R&D programs result in commercially viable products; success depends on clinical trials, IP, and regulatory approvals [sec_mda · as of 2026-02-11].
- Intense competitive environment — Competition on cost, innovation, and IP across all product lines requires substantial ongoing investment [sec_mda · as of 2026-02-11].
- Patent litigation risks — Ongoing legal proceedings regarding patents and IP could affect product exclusivity and revenue [sec_mda · as of 2026-02-11].
What to watch
- Impact of STELARA biosimilar launches on revenue in 2025 and beyond [sec_mda · as of 2025-07-24].
- Progress of pipeline candidates, particularly in Oncology and Neuroscience, and upcoming Phase 2/3 readouts [sec_mda · as of 2026-02-11].
- Integration and sales performance of the Intra-Cellular Therapies acquisition (CAPLYTA) [sec_mda · as of 2025-10-22].
- Ability to maintain free cash flow and dividend growth amid competitive and regulatory pressures [sec · filed 2026-03-11].
Sources: SEC filings · SEC MD&A · Generated August 28, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
9.7 months
D/E 1.37 · 1% dilution
No tracked pipeline phase
No tracked pipeline candidates
3 upcoming, next in ~31d
0 buys · 9 sells (180d)
Runway
Catalysts
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
4,593
Total value held
$451.94B
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 313,210,740 | $76.56B |
| blackrock, inc. | 213,385,546 | $52.16B |
| state street corp | 133,476,288 | $32.63B |
| vanguard portfolio management llc | 63,514,436 | $15.53B |
| geode capital management, llc | 59,164,862 | $14.42B |
| morgan stanley | 44,721,167 | $10.93B |
| state farm mutual automobile insurance co | 31,590,952 | $7.72B |
| northern trust corp | 29,319,669 | $7.17B |
| bank of america corp /de/ | 25,516,697 | $6.24B |
| fmr llc | 24,771,828 | $6.06B |
Showing top 10 of 4,593 institutional holders of JOHNSON & JOHNSON. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 1.0%
- Days to cover
- 2.9
- Shares short
- 22,349,005
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
JNJ short interestGovernance
Frequently asked questions
What is the AI investment thesis for JOHNSON & JOHNSON?
Johnson & Johnson is a diversified healthcare company operating in Innovative Medicine and MedTech, with a strong financial profile and a pipeline spanning oncology, immunology, neuroscience, and medical devices.
What is JOHNSON & JOHNSON's next catalyst?
JOHNSON & JOHNSON's next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: nexicart-2" — expected September 30, 2026.
Who is the CEO of JOHNSON & JOHNSON?
Mr. Joaquin Duato is the chief executive officer of JOHNSON & JOHNSON (JNJ).
Where is JOHNSON & JOHNSON headquartered?
JOHNSON & JOHNSON (JNJ) is headquartered in New Brunswick, NJ, United States.
What therapeutic areas does JOHNSON & JOHNSON focus on?
JOHNSON & JOHNSON develops therapies across Oncology, Neurology, Immunology, Ophthalmology, Cardiovascular, Respiratory, Pain, Dermatology, Gastroenterology, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.