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J&J Net Income Falls 22 Percent After Acquisitions (Update5)

...Drug sales rose to $6.2 billion.

Cypher Stent Revenue from the Cypher stent fell 26 percent to $530 million after studies linked the device to elevated risk of fatal blood clots.

J&J is still the leading worldwide seller of stents, with a 48 percent market share, the company said.

Sales of drug-coated heart stents made by J&J and Boston Scientific Corp.

fell in March, declining for the sixth time in seven months as doctors use older, bare-metal models to prop open arteries, according to a report released last week by Goodroe Healthcare Solutions, a Norcross, Georgia, company that surveys U.S.

hospitals.

Pharmaceutical revenue rose 11 percent to $6.2 billion.

Sales of antipsychotics, including the schizophrenia drug Risperdal, rose 3 percent to $1.2 billion.

Sales of Procrit, an anemia drug re-labeled in March to warn of risks of heart attacks and strokes, rose less than one percent, to $530 million.

``It was a positive surprise that Procrit issues haven't shown up in the numbers,'' Cranna said.

Procrit Sales Procrit sales were bolstered by strong revenue from retailers and hospitals during the quarter, J&J said.

Consumer-product revenue rose 49 percent to $3.5 billion, helped by sales from products acquired from Pfizer as well as from J&J's line of baby-care items.

In the first quarter of 2006, earnings excluding a breakup fee from J&J'...

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