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backed out of an acquisition agreement and instead was purchased by Boston Scientific Corp.Analysts surveyed by Thomson Financial expected earnings per share of $1.05, on sales of $14.44 billion.

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

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backed out of an acquisition agreement and instead was purchased by Boston Scientific Corp.Analysts surveyed by Thomson Financial expected earnings per share of $1.05, on sales of $14.44 billion.

Sales totaled $15.04 billion, up nearly 16 percent from $12.99 billion a year earlier."We view this quarter as a very strong one," analyst Glenn Reicin of Morgan Stanley wrote in a research report.However, Reicin and analyst Steve Brozak of WBB Securities both said J&J needs more mergers or acquisitions to ensure growth.New concerns about the safety and effectiveness of J&J's Cypher and other drug-coated stents — tiny metal scaffolds that prop open arteries and slowly release medicine to keep them open — cut J&J's sales more than 25 percent to $503 million dollars.

That hurt revenues in the medical devices and diagnostics division, which edged up 6 percent to $5.32 billion.Brozak said more and more medical journals have been publishing reports indicating drug-coated stents are "not the optimal solution" for clogged arteries."...

backed out of an acquisition agreement and instead was purchased by Boston Scientific Corp.Analysts surveyed by Thomson Financial expected earnings per share of $1.05, on sales of $14.44 billion.

Sales totaled $15.04 billion, up nearly 16 percent from $12.99 billion a year earlier."We view this quarter as a very strong one," analyst Glenn Reicin of Morgan Stanley wrote in a research report.However, Reicin and analyst Steve Brozak of WBB Securities both said J&J needs more mergers or acquisitions to ensure growth.

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