Johnson & Johnson Sees Path to Double Digit Growth Amid Patent Losses

Johnson & Johnson (JNJ) outlined its growth plan at the Deutsche Bank Healthcare Summit on Thursday, September 17, 2026. Despite facing patent losses and a complex policy backdrop, Chief Financial Officer Joseph Wolk said the company sees a 'clear line of sight to double digits' growth by the end of the decade.

The company's recent performance supports its longer-term plan, with 6.6% revenue growth in the second quarter and a raised 2026 outlook. Johnson & Johnson expects $21 billion in free cash flow in 2026, described as a 'high-water mark' before further growth. The business remains roughly split between the U.S. and outside the U.S.

The company is preparing for about $4 billion to $4.5 billion in loss-of-exclusivity pressure in 2027, with XARELTO expected to represent about $2 billion of that impact. However, Wolk said Johnson & Johnson has already shown it can manage biosimilar competition.