Johnson & Johnson Quarterly Profit Rises on Sale of Unit
This article is for subscribers only.
Johnson & Johnson, the world’s biggest maker of health-care products, said growing sales of new hepatitis C drug Olysio boosted its 2014 earnings forecast for the third quarter in a row.
Net income rose 59 percent to $4.75 billion, or $1.66 a share, from $2.98 billion, or $1.04 a share, a year earlier, helped by a $1.1 billion gain from the sale of its Ortho Clinical Diagnostics unit, the New Brunswick, New Jersey-based company said today in a statement. Earnings excluding one-time items of $1.50 a share beat by 6 cents the average of 16 analysts’ estimates compiled by Bloomberg.