US: Johnson & Johnson Raises FY Forecast

Johnson & Johnson has raised its sales and profit forecast for the full year, after reporting stronger-than-expected results for its fiscal second quarter.

For the quarter, total revenue rose 3.9% to $18.5bn, although net profit was down 11.4% to $3.99bn. It was helped by strong demand for select drugs, which boosted sales at its Pharmaceuticals unit by 8.9% to $8.7bn.

The group now expects full-year sales of $71.5bn-$72.2bn, up from $71.2bn-$71.9bn earlier, while adjusted profit is expected to amount to $6.63 to $6.73 per share, from $6.53 to $6.68 previously.