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Johnson & Johnson 1st-quarter profit falls 22% on acquisition charge

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

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

Sales totalled $15.04 billion, up nearly 16 per cent from $12.99 billion a year earlier.

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Acquisition charge hurts Johnson & Johnson

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

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

Sales totalled $15.04 billion, up nearly 16 per cent from $12.99 billion a year earlier.

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UPDATE 2-J&J handily beats forecast, shares jump

...Global sales of the drug-coated stent fell 27 percent to $530 million, amid concerns that it and rival devices can cause dangerous blood clots long after they are implanted.

Company officials cited lower prices and "overall softness" in demand for Cypher.

Sales of consumer products jumped 49 percent to $3.5 billion, as the brands acquired from Pfizer were absorbed by J&J and distributed around the world.

(Additional reporting by Lewis Krauskopf) © Reuters 2007.

All Rights Reserved.

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