(AP) - PROFIT DROP: Third-quarter net income dropped 7 percent for health care giant Johnson & Johnson, to $2.97 billion, or $1.05 per share, but after adjusting for one-time charges, it beat Wall Street expectations.
SALES CLIMB: Revenue rose 6.5 percent to $17.05 billion. Revenue from prescription medicines and medical devices increased. Consumer health sales declined due to recalls continuing to keep some nonprescription medicines out of stores.
KEY IMPACT: Most of the sales increase came from the June acquisition of Synthes Inc., which makes surgical trauma equipment and orthopedic implants.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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