Johnson & Johnson Profit Up 18%
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Johnson & Johnson said first-quarter profit rose 18% as sales increased for products ranging from drugs to treat anemia and arthritis to devices used in heart procedures.
J&J; posted a quarterly profit of $1.83 billion, or 59 cents per share, a penny ahead of analysts’ estimates. Sales at the New Brunswick, N.J.-based firm rose 11% to $8.74 billion.
J&J;’s healthy performance is bolstered by its lead in the race to launch a drug-coated stent--a revolutionary device that props open clogged heart arteries and delivers a drug to keep them from reclosing.
Johnson & Johnson shares rose $1.10 to $63.26 on the NYSE.
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