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BUSINESS A25
                                                                                                                                                    Wednesday 27 January 2016

Johnson & Johnson beats 4Q profit views despite lower sales 

Johnson & Johnson products are displayed in Orlando, Fla.                      pany said. However, its         other U.S. multinationals as     with revenue of $70.8 bil-
Johnson & Johnson’s reported quarterly financial results, Tues-                prescription drugs segment      well. The total missed ana-      lion to $71.5 billion. Analysts
day, Jan. 26, 2016.                                                            turned in the best perfor-      lyst projections for 17.94 bil-  were expecting $71.9 bil-
                                                                               mance and was the only          lion.                            lion in sales and earnings of
                                                        (AP Photo/John Raoux)  segment with higher sales.      “The quarter was pretty          $6.37 per share.
                                                                               The world’s biggest health      solid,” said Edward Jones        “We’re pleased with the
LINDA A. JOHNSON                    and multiple charges. The                  care product company            analyst Ashtyn Evans, add-       results,” CEO Alex Gorsky
AP Business Writer                  results pushed up shares of                said on Tuesday that net        ing that over the long term,     told analysts during a con-
(AP) - Johnson & Johnson            the Dow component more                     income was $3.2 billion, or     profit will be driven more by    ference call. “We’re opti-
posted a 28 percent jump            than 3 percent.                            $1.15 per share, up from        launches of new prescrip-        mistic about the opportuni-
in fourth-quarter profit,           J&J’s consumer  business,                  $2.53 billion, or 89 cents      tion drugs than medical          ties in health care and the
beating Wall Street ex-             hammered by an embar-                      per share, a year earlier.      devices or consumer prod-        strength of our business.”
pectations, as the sale of          rassing stretch of dozens of               Adjusted net income was         ucts. For example, she said      He noted J&J plans by 2019
part of its now-restructur-         recalls dating to 2009, final-             $4.04 billion, or $1.44 per     recently approved Darza-         to apply for approval of 10
ing medical devices  busi-          ly has nearly all its products             share, which was 2 cents        lex, for the blood cancer        new products that each
ness offset the strong dollar       back in stores, the com-                   better than Wall Street an-     multiple myeloma, eventu-        could generate $1 billion in
                                                                               alysts expected, accord-        ally could produce billions      annual sales.
                                                                               ing to Zacks Investment Re-     in annual sales.                 Last week, Johnson & John-
                                                                               search.                         Johnson & Johnson, based         son said it plans to restruc-
                                                                               J&J posted a $1.21 billion      in New Brunswick, New            ture its underperforming
                                                                               gain, mainly for its Octo-      Jersey, expects full-year        medical devices  business,
                                                                               ber divestiture of its Cordis   adjusted earnings, which         which includes the reduc-
                                                                               heart devices unit. Cordis      excludes one-time items,         tion of about 3,000 jobs
                                                                               had accounted for about         of $6.43 to $6.58 per share,     over the next two years.
                                                                               a quarter of device sales.
                                                                               Revenue for the maker of
                                                                               baby shampoo, prescrip-
                                                                               tion medicines and medi-
                                                                               cal devices fell 2.4 percent
                                                                               to $17.81 billion, hurt by the
                                                                               dollar that has weighed on

Weight Watchers stock gains as Oprah loses

NEW YORK (AP) — Weight              loss company in October.                   31 million Twitter followers.
Watchers stock is gaining           Its stock is up more than 90               Weight Watchers has also
again, thanks to Oprah              percent since then. Win-                   made changes to its plans
Winfrey’s weight loss.              frey is a natural fit for the              recently to better fit in with
The company’s shares                company: Her struggle with                 Winfrey’s message of living
soared Tuesday after a              weight was a frequent top-                 a healthy and happier life,
new commercial starring             ic of her former talk show.                and not just focusing on
Winfrey aired where she             “I love bread!,” Winfrey                   weight loss.
says she has lost 26 pounds         says in the new commer-                    Shares of New York-based
on Weight Watchers. Win-            cial. “That’s the genius of                Weight Watchers Interna-
frey said during an appear-         this program.                              tional Inc. rose 21 percent
ance on “The Ellen DeGe-            I lost 26 pounds and I have                to $13.44 in afternoon trad-
neres Show” that she start-         eaten bread every single                   ing. But they are still down
ed on the plan in August.           day.”                                      about 21 percent from a
Winfrey bought a 10 per-            Winfrey posted the  ad  on-                year ago.
cent stake in the weight-           line Tuesday to her nearly

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