🟢 JNJ soars 3.6% on positive EU drug recommendation and healthcare sector rotation

JNJ is trading 3.6% up at $253.75 today, driven by a positive recommendation from the European Medicines Agency (EMA) for an indication extension of its drug TECVAYLI® in combination with daratumumab for multiple myeloma.

• The Committee for Medicinal Products for Human Use (CHMP) recommendation is for adult patients with relapsed or refractory multiple myeloma.
• The move also aligns with broader sector rotation into defensive healthcare names, as investors shift away from technology stocks.
• This extends a strong multi-day rally, lifting the stock approximately 9.7% since June 22.