Tecvayli threatens to eclipse Carvykti

The first sales figures are out for Johnson & Johnson’s Tecvayli, and they show the BCMA-targeting T-cell engager catching up with J&J and Legend’s stalling BCMA Car-T therapy, Carvykti. During its first-quarter earnings call today J&J said it expected Carvykti revenues to pick up in the second half of the year, no doubt helped by its recent FDA approval for second-line multiple myeloma. Tecvayli is approved for fifth-line disease, but J&J is also evaluating it for earlier use. The latest numbers raise interesting questions about how J&J should prioritise the two assets, particularly given that Tecvayli likely has better margins, as well as being wholly owned. While BCMA Car-T has produced better response rates than T-cell engagers in late-line multiple myeloma, bispecifics have advantages including the fact they can be used immediately and don’t require prior lymphodepletion. J&J has another multiple myeloma product, the anti-GPRC5D T-cell engager Talvey, also approved for fifth-line use, at least for now; the company isn’t currently breaking out sales but said Talvey grew at double digits in the first quarter. All of this looks like bad news for Carvykti’s originator Legend, whose shares sank 4% this morning. 

Tecvayli vs Carvykti sales

Source: company financial releases.