Johnson & Johnson profit beats forecasts, as drug sales rebound


Johnson & Johnson reported better than expected quarterly results On Tuesday, as its pharmaceutical sales rebounded with the help of newer products, including treatments for prostate cancer and hepatitis C.

The company earned $3.0 billion, or $1.05 per share, in the third quarter. That compared with $3.2 billion, or $1.15 per share, in the year-earlier period.

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Excluding special items, the diversified healthcare company earned $1.25 per share. Analysts, on average, had expected $1.21

per share, according to Thomson Reuters I/B/E/S.

Company revenue rose 6.5 percent to $17.1 billion, topping Wall Street expectations of $16.98 billion.

(Reporting by Ransdell Pierson; Editing by Gerald E. McCormick)