J&J; Profit Rises 13%, Helped by Remicade
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Johnson & Johnson said third-quarter profit rose 13% on higher sales of drugs for rheumatoid arthritis and schizophrenia.
Net income climbed to $2.34 billion, or 78 cents a share, from $2.07 billion, or 69 cents, a year earlier. Sales rose 11% to $11.6 billion.
Analysts surveyed by Thomson First Call had expected earnings of 76 cents a share.
Revenue gains of more than 20% for the rheumatoid arthritis drug Remicade and the antipsychotic treatment Risperdal compensated for sliding sales of anemia drugs and the Cypher drug-coated heart stent.
Johnson & Johnson shares rose $1.46 to $56.82 on the New York Stock Exchange.
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