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J&J's Growing Pharma Unit Helps Company Overcome Currency Woes

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Joseph Wolk, chief financial officer at Johnson & Johnson, discusses third-quarter results.(Source: Bloomberg)

Johnson & Johnson’s booming pharmaceutical unit is driving the health-care conglomerate’s business, leading the company to raise its full-year earnings guidance after trimming it a quarter ago because of foreign exchange rates.

Sales at the New Brunswick, New Jersey-based company’s drug division were up 6.7 percent in the third quarter, to $10.3 billion, the company said in a statement. Overall, J&J forecast adjusted earnings this year of $8.13 to $8.18 a share.