Johnson & Johnson (JNJ)
18 Jul 2018
Abbott Laboratories raised its full-year earnings forecast and topped estimates for quarterly profit on Wednesday, powered by demand for its glucose monitoring device for diabetics and gains from its multibillion dollar acquisitions.
* Shares hit record high (Adds details from conference call, analysts' quotes, updates shares)
* Oil steadies on U.S. stockpile forecasts, Venezuela worries (Updates with close of U.S. trading)
* Powell: "Several years" of strong jobs, low inflation ahead
Johnson & Johnson on Tuesday reported better-than-expected second quarter profit as sales of pharmaceuticals surged 20 percent despite a sharp decline in blockbuster arthritis drug Remicade, and its shares rose more than 4 percent.
* Pharma unit sales rise 20 pct, driven by cancer drug growth
* Indexes up: Dow 0.07 pct, S&P 0.21 pct, Nasdaq 0.18 pct (Changes comment, adds details; updates prices)
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July 17 Johnson & Johnson reported a 3.3 percent rise in quarterly profit on Tuesday, as higher sales of cancer drugs Zytiga and Darzalex helped offset pressure on its blockbuster rheumatoid arthritis treatment Remicade.
NEW YORK Johnson & Johnson has vowed to appeal a $4.7 billion verdict awarded to 22 women who claim asbestos-contaminated talc in the company's products gave them ovarian cancer by arguing the plaintiffs' science was flawed and the case should not have been heard in Missouri. | Video
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