This site is intended for health professionals only!
Johnson & Johnson’s third-quarter profits fell about 8% because of a charge for cutting jobs, primarily in its stent-making and pharmaceuticals businesses, the company has said.
The company earned $2.5bn compared with a profit of $2.7bn during the same period last year.
Revenue rose to $14.9bn from $13.2bn, helped by strong results in international markets.
In July, the firm said it would reduce its global workforce by up to 4%, or up to 4,820 jobs, partly in order to cut costs due to falling sales of heart stents, plus looming patent expirations.
Copyright © PA Business 2007