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Sentiment · FY2026 Q2
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“the number being bought Boston Scientific, J and J announcing the spinout of their ortho business.”
Analyst cites J&J's announced spinout of its orthopedics business as a competitive-landscape shift; a read-through on JNJ divesting ortho where it competes with Stryker.
“It sounds like you haven't really seen any change in new start share here with the Tremfya entry.”
An analyst probes competitive pressure from J&J's Tremfya on AbbVie's SKYRIZI in IBD; management says SKYRIZI new-start share remains stable, a read-through on J&J's IL-23 competitive traction.
“And we're seeing big pharma making nice moves. Novo Nordisk, J&J, Eli Lilly.”
MLM names Johnson & Johnson among pharma companies building new facilities, a read-through on J&J domestic manufacturing/facility investment.
“A Phase III head-to-head study against Darzalex is planned to start in the coming months with Darzalex having demonstrated a 9% complete response rate in this setting.”
Regeneron plans a head-to-head myeloma trial versus J&J's Darzalex, citing Darzalex's modest 9% complete-response rate as a beatable benchmark.
“based on what I understand from the J&J program, this is posdinemab. And it's a tau monoclonal antibody it targets the mid-domain of tau.”
Biogen discusses J&J's competing anti-tau monoclonal antibody posdinemab, noting monoclonal approaches to tau have not been promising in its view.
“This is a work that has been scrutinized very carefully in BMS and also with our partner, J&J, in this setting.”
J&J is BMS's development partner on the Factor XIa anticoagulant milvexian, jointly scrutinizing dosing and trial design.
“we know that TREMFYA is going to gain some market share and in-place share.”
AbbVie expects J&J's TREMFYA to gain some IL-23 share as the class expands rapidly, a competitive read-through in immunology/IBD.
“We know J&J had a similar trial in a similar patient population that just read out.”
An analyst compares Pfizer's Elrexfio MagnetisMM-5 multiple-myeloma trial timing against a similar J&J trial that recently read out.
“A few notable examples within Martin Marietta's footprint include Eli Lilly's $6.5 billion facility in Houston and 2 large projects in Raleigh, including Novo Nordisk's $4.1 billion expansion and Johnson & Johnson's $2 billion expansion.”
Martin Marietta cites Johnson & Johnson's $2B Raleigh expansion as a pharma-reshoring project driving aggregates demand, a read-through on J&J's U.S. manufacturing investment.
“given Johnson & Johnson's announcement, a long-duration exit tends to throw up opportunities for others.”
An analyst frames Johnson & Johnson's orthopedics exit as a share opportunity for competitors like Zimmer Biomet; management acknowledges spin-off disruption.
“I think Roche is talking about $50 billion in spend, Novartis $23 billion, J&J $55 billion, Eli Lilly $27 billion, I mean, these are like sort of semiconductor like numbers and you guys do have a very strong position in this market.”
Pharma majors including J&J are committing large sums to U.S. manufacturing reshoring; Emerson said the activity is real and it is well positioned and working closely with these customers on their capacity build-outs.
“That's, you know, J and J and Alcon. That are out there playing in in that market right now. So that's not a market we're gonna enter. Like, we're in the daily side of things. And we're in the monthly side of things. So I'll I'll leave it to those two guys to kinda battle out the winner of of that space.”
Cooper explicitly cedes the weekly/two-week contact lens segment to J&J and Alcon, confirming both remain the dominant competitors in that lens category that Cooper does not compete in.
“like the one we did earlier this year with Halda Therapeutics, which brings a new platform in our oncology business”
J&J cites its early-stage deal for Halda Therapeutics as adding a new oncology platform, a read-through that Halda's technology was acquired into J&J's cancer pipeline.
“in what's already a pretty crowded space with another potential next-generation factor 11 from Bayer”
An analyst frames Bayer's next-generation factor XIa inhibitor as competition for J&J's Milvexian in the anticoagulant space.
“So we're looking forward to this product that we're developing in collaboration with Bristol Myers Squibb.”
J&J is co-developing the factor XIa inhibitor Milvexian with Bristol Myers Squibb, a multibillion-dollar opportunity for both partners in AFib and secondary stroke.
“including the acquisitions of Intracellular Therapies and Halda Therapeutics.”
J&J acquired Halda Therapeutics in Q4 2025, adding a clinical-stage prostate cancer asset.
“including the acquisitions of Intracellular Therapies and Halda Therapeutics.”
J&J acquired Intracellular Therapies in 2025, adding CAPLYTA to its neuroscience portfolio.
“this year's acquisition of intracellular therapies, with FDA approval for CAPLYTA in major depressive disorder anticipated soon.”
J&J acquired Intra-Cellular Therapies in 2025, bringing CAPLYTA into its neuroscience portfolio ahead of an anticipated MDD approval. Read-through: Intra-Cellular Therapies was absorbed into J&J's neuropsychiatry franchise.
“with a more than 160,000 square foot dedicated manufacturing facility at FUJIFILM's new biopharmaceutical manufacturing site in Holly Springs.”
J&J is committing $2B to a dedicated manufacturing facility at Fujifilm's new biopharmaceutical site in Holly Springs, NC. Read-through: Fujifilm's US contract-manufacturing site is anchoring a major J&J biologics investment.
“Acquisitions and divestitures had a net positive impact of 200 basis points on worldwide growth primarily due to Shockwave.”
Shockwave Medical, acquired by J&J in 2024, contributed 200 basis points of inorganic MedTech growth this quarter, its final quarter before the acquisition benefit laps into organic comps at the end of May.
“These figures include the debt raised for the $14.5 billion intracellular acquisition, which closed on April 2.”
J&J closed its $14.5 billion acquisition of Intracellular Therapies (maker of CAPLYTA) on April 2, 2025, adding a fast-growing neuroscience franchise and driving incremental debt and interest expense this quarter.
“similar to HUMIRA's erosion curve, which is still our proxy”
J&J models STELARA's biosimilar-driven revenue erosion on the historical erosion curve of AbbVie's HUMIRA following its own biosimilar entry, using it as the benchmark proxy for forecasting.
“the completion of our acquisition of IntraCellular Therapies, which extends Johnson & Johnson's industry-leading portfolio in central nervous system disorders”
J&J announced the completion of its acquisition of Intra-Cellular Therapies (adding the drug Caplyta) in early April 2025, expanding its CNS/neuroscience portfolio.
“Intra-Cellular Therapies, a biopharmaceutical company focused on the development and commercialization of therapeutics for Central Nervous System Disorders”
J&J announced a planned acquisition of Intra-Cellular Therapies to bolster its neuroscience/mental-health pipeline, anchored by the CNS drug CAPLYTA, expected to close and add growth in 2025.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Terence Flynn | Morgan Stanley | 8 (13%) |
| Chris Schott | JPMorgan | 8 (13%) |
| Larry Biegelsen | Wells Fargo | 7 (14%) |
| Alex Hammond | Wolfe Research | 7 (0%) |
| Asad Haider | Goldman Sachs | 6 (0%) |
| Shagun Singh | RBC Capital Markets | 5 (0%) |
| Vamil Divan | Guggenheim | 5 (20%) |
| Joanne Wuensch | Citigroup | 4 (25%) |
| Danielle Antalffy | UBS | 4 (25%) |
| Matt Miksic | Barclays | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| JPMorgan | 1 | 8 (13%) |
| Morgan Stanley | 1 | 8 (13%) |
| Wolfe Research | 1 | 7 (0%) |
| Goldman Sachs | 2 |
Johnson & Johnson posted Q1 2026 worldwide sales of $24.1 billion, up 6.4%, though adjusted EPS of $2.70 declined 1.4% and 2.5% respectively versus Q1 2025 due to front-loaded launch investments for ICOTYDE and margin pressure. TREMFYA delivered exceptional 63.8% growth with IBD momentum continuing, and the ICOTYDE launch was off to a fast start with strong demand, while STELARA biosimilar erosion created a 540 basis point headwind. FY2026 guidance was raised modestly with sales to $100.2 billion and EPS midpoint to $11.40, and the oncology portfolio drove strong double-digit growth.
Revenue Growth | Product Launch | Innovation & R&D | Competitive Dynamics | Demand | Capital Allocation | Regulation Policy | Guidance Reliability | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 1 | 1 | 1 | 1 | 1 | ||
| 2025Q1 | 3 | 1 | 1 | 3 | 1 | 1 | ||
| 2025Q2 | 5 | 3 | 3 | 1 | 1 | |||
| 2025Q3 | 5 | 2 | 2 | 2 | 4 | 1 | 2 | |
| 2025Q4 | 3 | 1 | 4 | 2 | 2 | 3 | 1 | |
| 2026Q1 | 2 | 7 | 3 | 5 | 6 | 1 | ||
| 2026Q2 | 3 | 6 | 2 | 1 | 4 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Revenue Growth | 3 | 3 | 5 | 5 | 3 | 2 | 3 |
| Product Launch | 1 | 1 | 3 | 2 | 1 | 7 | 6 |
| Innovation & R&D | 1 | 1 | 3 | 2 | 4 | 3 | 2 |
| Competitive Dynamics | 1 | 3 | 1 | 2 | 2 | 5 | 1 |
| Demand | 1 | 6 | 4 | ||||
| Capital Allocation | 1 | 4 | 2 | ||||
| Regulation Policy | 1 | 1 | 1 | 3 | |||
| Guidance Reliability | 1 | 2 | 1 | 1 | 1 |
| 7 (0%) |
| Wells Fargo | 1 | 7 (14%) |
| Guggenheim | 1 | 5 (20%) |
| RBC Capital Markets | 1 | 5 (0%) |
| UBS | 1 | 4 (25%) |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
JNJ Johnson & Johnson | 7 | +6.6% | |
| ABBV AbbVie | 9 | +12.4% | |
| AMGN Amgen Inc. | 8 | +5.8% | |
| BIIB Biogen | 4 | +1.9% | |
| BMY Bristol Myers Squibb | 4 | +2.6% | |
| GILD Gilead Sciences | 8 | +4.4% | |
| LLY Lilly (Eli) | 10 | +55.5% | |
| MRK Merck & Co., Inc. | 7 | +4.3% | |
| PFE Pfizer | 5 | +5.4% |