J&J invests in experimental drugs as competitive threats loom

New York

JOHNSON & JOHNSON is investing in a collection of experimental drugs with blockbuster potential, treating widespread illnesses such as blood cancer and Alzheimer's disease, to help rise above looming competitive threats to its pharmaceutical business.

The world's biggest maker of health products said on Wednesday it plans to seek regulatory approval for more than 10 new drugs by 2019 with potential annual sales of more than US$1 billion apiece. That would help J&J regain some momentum in what has become its biggest division, whose drugs approved in the last few years are projected to lag behind its biggest rivals.