It’s official: Carvykti is a blockbuster

Johnson & Johnson/Legend’s Carvykti nearly breached the $1bn sales mark in 2024, and now it has smashed that target, with J&J on Wednesday revealing full-year 2025 revenues of $1.9bn for the anti-BCMA Car-T therapy. Sales clearly took off after Carvykti’s April 2024 US approval for second-line multiple myeloma, making this the first BCMA-directed treatment to be available in this early setting. It’s also noteworthy that Carvykti’s growth has come in spite of criticism from Legend’s fierce rival Arcellx, which has played up Carvykti’s delayed neurotoxicities, including Parkinsonism – something it claims its own similarly acting anito-cel hasn’t shown clinically. Anito-cel has been filed with the FDA for late-line multiple myeloma based on the Immagine-1 study, but neither Arcellx nor its partner Gilead has revealed a PDUFA date. Carvykti’s strong sales suggest that anito-cel’s potentially cleaner safety profile might be overblown, and Arcellx shares were down 5% on Wednesday. Perhaps of more concern for J&J is whether Carvykti’s growth has come at the expense of another of its anti-BCMA drugs, the T-cell engager Tecvayli, whose 2025 sales rose by a more restrained 22%. However, after wins in the Majestec-3 and 9 trials, Tecvayli itself has the second line in its sights.

Carvykti vs Tecvayli vs Talvey, global sales ($m)

Source: company financial releases.