Johnson & Johnson (J&J) has launched Icotyde, a new oral medication for moderate to severe plaque psoriasis, following its approval by the Food and Drug Administration in mid-March 2026 [1]. Icotyde is the first and only oral treatment targeting the IL-23 receptor, a mechanism previously addressed only by injectable biologics such as J&J's Tremfya and AbbVie's Skyrizi [1]. J&J CEO Joaquin Duato stated that Icotyde has the potential to become one of the company's largest products ever, aiming to bolster J&J's immunology portfolio alongside Tremfya and offset declining revenues from Stelara, which lost exclusivity in 2025 and is expected to generate just $2.36 billion in 2026, down from nearly $11 billion in 2023 [1].
Tremfya sales have shown strong growth, rising from $3.15 billion in 2023 to an estimated $7.13 billion in 2026 [1]. While it is too early to quantify Icotyde's financial impact, J&J reported that approximately 1,500 prescriptions were written for the drug in less than 30 days after launch [1]. The company is also studying Icotyde for potential use in Crohn's disease and ulcerative colitis, positioning it as a much-needed oral alternative in the psoriasis market, which J&J estimates includes about 8 million people in the U.S. [1].
J&J executives emphasized that recent changes to prescribing guidelines now make it easier for patients to access systemic and advanced therapies, suggesting Icotyde could become the first systemic choice for many who have cycled through topical treatments [1]. However, Bank of America analyst Jason Gerberry expressed skepticism about whether the convenience of a daily pill is enough to shift patients away from established injectable biologics, noting that some patients may prefer quarterly injections over daily oral medication [1].
Overall, J&J is positioning Icotyde and Tremfya as a complementary portfolio to address diverse patient needs and maintain leadership in the immunology market as Stelara sales decline [1].
CONCLUSION
Johnson & Johnson is making a significant push with Icotyde, aiming to fill the revenue gap left by Stelara's loss of exclusivity and to strengthen its immunology portfolio. While early prescription numbers are promising and the company is optimistic about Icotyde's potential, some analysts remain cautious about its ability to overtake established injectable treatments. The market will be watching closely to see if Icotyde can deliver on J&J's high expectations.