Johnson & Johnson stock rises on Darzalex Faspro FDA nod as traders size up drug-pricing risks
Johnson & Johnson shares rose 1.2% to $227.06 after the FDA approved Darzalex Faspro for use with the VRd regimen in newly diagnosed multiple myeloma patients ineligible for stem cell transplant. The approval is based on the CEPHEUS trial, which showed improved outcomes. The move comes as Medicare named 15 drugs for future price negotiations, pressuring the sector.