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3. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 113

On May 31, Reuters reported that Johnson & Johnson (NYSE:JNJ)’s prostate cancer drug Erleada, when used alongside hormone-blocking therapy for six months before and after prostate surgery, improved the chances of eliminating cancer and lowered the risk of disease progression or death, according to data from a late-stage clinical trial.

The study followed patients for more than five years. Researchers found that patients who received the combination treatment were nine times more likely to have little to no detectable cancer in the prostate at the time of surgery compared with those who received testosterone-blocking therapy alone.

Johnson & Johnson said the addition of Erleada also reduced the risk of cancer spreading or death by 20%. The findings were presented at the American Society of Clinical Oncology meeting in Chicago and could influence how doctors treat men with high-risk localized or locally advanced prostate cancer. Surgery to remove the prostate and radiation therapy are currently the standard treatments for these patients.

According to Johnson & Johnson, about 40% of the 330,000 people diagnosed with prostate cancer each year in the United States are considered high-risk. The trial also evaluated a full year of treatment with Erleada and hormone therapy before and after surgery. Among those patients, men who received the combination treatment went more than six years on average before needing additional treatment. That was nearly twice as long as the time for patients who received hormone therapy alone. The longer Erleada treatment regimen also reduced the risk of recurrence and death by 29%.

Johnson & Johnson (NYSE:JNJ) and its subsidiaries are engaged in the research, development, manufacture, and sale of healthcare products. The company operates through its Innovative Medicine and MedTech segments.