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1Q Financial Report: Johnson & Johnson

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Johnson & Johnson

1Q Revenues: $13 billion (+1.2%)

1Q Earnings: $3.3 billion* (+4.5%)

Comments: Worldwide Pharmaceutical sales were $5.6 billion for the quarter, down 2.2%. Sales results for Duragesic, Ultracet, and Sporanox, were all negatively impacted by generic competition. Risperdal, Remicade, Topamax, and Concerta sales were strong for the quarter.

* The first quarter included an after-tax gain of $368 million associated with the termination of the Guidant acquisition agreement, and after-tax in-process R&D charges of $29 million associated with the acquisitions of Hand Innovations LLC and Future Medical Systems S.A.

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