J&J earnings beats analysts' estimates thanks to drug sales
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[NEW YORK] Johnson & Johnson, the world's largest health-care company, beat fourth-quarter profit estimates, boosted by blockbusters like arthritis treatment Remicade and psoriasis drug Stelara.
Earnings were $1.44 a share, excluding some items, J&J said Tuesday, topping the $1.42 average of 20 analysts' projections compiled by Bloomberg. Facing a slowdown in medical devices, J&J is relying on drugs to boost growth. The company said last week it plans to cut about 3,000 jobs from the medical-devices unit, which has been under pressure from cost-cutting by insurers and hospitals.
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