J&J's newer drugs doing well

Investor's Business Daily

The maker of health products, including artificial hips and painkiller Tylenol, reported Q3 EPS rose to $1.25 vs. $1.24 last year, beating analyst estimates by 4 cents. Sales rose 6.5% to $17.05 bil, topping consensus views of $16.97 bil. Johnson & Johnson (JNJ) said newer drugs, including a prostate cancer treatment, led the rebound and investor fears about medical device sales proved unfounded. J&J's results have been helped by the launch of drugs like Zytiga for prostate cancer. Shares rose 1.4% to 69.55.

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