Cheaper biotech drugs are headed to the U.S., threatening big pharma companies like Johnson & Johnson. However, JPMorgan analyst Mike Weinstein thinks J&J can weather the storm.
The drugs are called biosimilar, which means they are not generic copies but instead are similar. The medications are manufactured using living cells and because it is so complicated, copycat versions can't be identical.
The first biosimilar drug was approved in the U.S. in March. However, legal battles have prevented it from hitting the market yet.
J&J's $5 billion arthritis drug Remicade could see competition within the next few years, Weinstein said Wednesday in an interview with CNBC's "Power Lunch." While it could happen before Remicade comes off patent, he thinks it will likely occur after the patent expires in late 2018.