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Johnson & Johnson presents first quarter 2007 financial results

...This growth was partially offset by challenges faced by Cordis in the drug-eluting stent market.During the quarter, the Company announced the completion of the acquisition of Conor Medsystems, Inc., a cardiovascular device company with a unique controlled drug-delivery technology.In April, the Company submitted a Premarket Approval (PMA) application with the U.S.

Food and Drug Administration (FDA) for its adjustable gastric band, an implantable device for the treatment of morbid obesity.Worldwide Pharmaceutical sales of $6.2 billion for the first quarter represented an increase over the prior year of 10.6% with operational growth of 8.6% and a positive impact from currency of 2.0%.

Domestic sales increased 9%, while international sales increased 13.6% (7.7% from operations and 5.9% from currency).Sales growth reflects the strong performance of TOPAMAX®, an antiepileptic and a treatment for the prevention of migraine headaches; LEVAQUIN®, an anti-infective, and our antipsychotic franchise, which includes RISPERDAL® , RISPERDAL® CONSTA® and INVEGA®.During the quarter, the European Commissiongranted conditional marketing authorization for PREZISTA™, a protease inhibitor for the treatment of HIV-1 infected patients.

In addition, the FDA granted pediatric exclusivity for both LEVAQ...

J&J acquisition dampens record quarterly sales

...Excluding a charge of $807 million related to the acquisition of Conor Medsystems, J&J said net income was $1.16 per share.

In the year-ago quarter, results were also boosted by an after-tax gain of $368 million from the breakup fee J&J received after medical device maker Guidant Corp.

backed out of an acquisition agreement and instead was purchased by Boston Scientific Corp.

J&J is the parent of Warsaw-based DePuy Orthopaedics.

Analysts surveyed by Thomson Financial had expected earnings per share of $1.05 and sales of $14.44 billion.

Sales totaled $15.04 billion, up nearly 16 percent from $12.99 billion a year earlier.

Operational sales growth, which excludes the effect of new products and currency exchange rates, was 6.3 percent.

Shares of J&J were up $1.94, more than 3 percent, to $64.96 in afternoon trading on the New York Stock Exchange.

Manufacturing, tax refund contribute to boom at Intel Benefiting from its rapid shift to a new chip-making process and a big tax windfall, Intel Corp.’s first-quarter profit surged 19 percent as lower production costs helped the company withstand another round in a fierce price battle with rival Advanced Micro Devices Inc.

Intel also raised its full-year profit margin guidance and said it would spend slightly more on rese...

Gunman Showed Hints of Anger and Isolation

...He also took a prescription medicine.

Neither Mr.

Aust nor Mr.

Grewal knew what the medicine was for, but officials said prescription medications related to the treatment of psychological problems had been found among Mr.

Cho’s effects.

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