Pharma Sales Propel Johnson & Johnson Profit Up 4%

Reuters

Johnson & Johnson (NYSE:JNJ) reported a 4 percent rise in quarterly profit as sales of its mainstay older drugs managed to offset the impact of a strong dollar on overseas revenue.

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The company's net profit rose to $4.52 billion, or $1.61 per share, in the second quarter, from $4.33 billion, or $1.51 per share, a year earlier.

Excluding special items, the company earned $1.71 per share.

Revenue fell nearly 9 percent to $17.79 billion.

Sales of its medical devices fell 12.2 percent to $6.36 billion.

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