Johnson & Johnson’s Spravato Surges Toward Blockbuster Status
Johnson & Johnson’s depression nasal spray Spravato continues its impressive growth trajectory, generating $414 million in Q2 2025 revenue. This represents a remarkable 53% increase from the previous year, positioning the drug to reach approximately $1.7 billion in annual sales.
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| Key Metrics | Q2 2025 | Q2 2024 | Growth |
|---|---|---|---|
| Global Revenue | $414M | $271M | 53% |
| US Sales | $366M | $226M | 61% |
| International Sales | $50M | $44M | 13% |
| Six-Month Revenue | $734M | $496M | 48% |
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Driving Forces Behind the Growth
The accelerated sales reflected “increased physician and patient confidence,” according to Jessica Moore, Johnson & Johnson’s head of investor relations. Doctors have become more comfortable prescribing Spravato after seeing real-world benefits in their patients over five years of data.
The growth coincides with expanded treatment options. The FDA approved Spravato as a standalone therapy for treatment-resistant depression in January 2025, marking the first-ever monotherapy option for this difficult-to-treat condition. Previously, patients required concurrent oral antidepressants.
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Market Position and Future Outlook
Spravato generated $780 million in sales during the first nine months of 2024 as doctors grew more comfortable using it. Johnson & Johnson maintains ambitious expectations, projecting annual sales to reach between $1 billion and $5 billion.
Jefferies analyst Andrew Tsai noted that “Spravato’s strong sales trajectory supports the notion psychedelics can become commercially viable for mental health”. This momentum comes at a crucial time as Johnson & Johnson prepares for patent expiration pressures on other key products.
Beyond Traditional Treatments
The drug is administered at 3,000 certified outpatient treatment centers across the United States. Dr. Gregory Mattingly, who has treated over 6,000 patients with Spravato, emphasized that “for the first time ever, we now have an option that gives patients freedom” from traditional antidepressant side effects.
The robust growth underscores Spravato’s transformation from experimental treatment to mainstream therapeutic option, validating Johnson & Johnson’s investment in innovative mental health solutions.
