J&J’s Spravato On Track to Become a $3.5B Drug By 2028
Johnson and Johnson’s ketamine-derived nasal spray Spravato is experiencing rapid growth and signals a broader shift toward commercial viability for psychedelic treatments in mental health. Analysts at Jefferies report that prescriptions have doubled year over year. If this trajectory holds, Spravato could reach up to 3.5 billion dollars in annual sales by 2028.
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| Key Takeaways | Details |
|---|---|
| Prescription Growth | Spravato prescription rates doubled from 2023 to 2024 |
| Market Potential | Johnson and Johnson projects 3 to 3.5 billion dollars in annual sales by 2028 |
| Forecast vs Consensus | Company projections are over 50 percent higher than Wall Street expectations |
| FDA Designation | Spravato is the only FDA approved psychedelic therapy for treatment resistant depression |
| Prescriber Base | Over 5,300 certified Spravato sites in the United States |
| Commercial Impact | Seen as a benchmark for future psychedelic drug rollouts |
A Growing Network of Providers
Spravato’s success is supported by a widening base of prescribers. With more than 5,300 certified treatment sites across the United States, accessibility is expanding. Clinics offering Spravato must meet strict Risk Evaluation and Mitigation Strategies, or REMS, requirements. This adds a layer of control and safety, which has helped build trust with providers and insurers.
The treatment involves a supervised nasal administration of esketamine and is used for patients with treatment resistant depression or major depressive disorder with suicidal thoughts. While not new, esketamine’s entrance through an FDA approved pathway has distinguished it from other psychedelic therapies still awaiting regulatory approval.
What This Means for Psychedelic Medicine
Spravato’s momentum does more than validate a single product. It signals the arrival of a new class of treatments. By positioning Spravato as a “key franchise” through 2028, Johnson and Johnson is not just aiming high—it is redefining expectations for the sector.
This progress may shift investor sentiment. With regulatory success and a robust distribution model in place, Spravato opens the door for broader acceptance of psychedelics in clinical medicine.
