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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (888)	10/9/1998 8:26:00 PM
From: Anthony Wong	Read Replies (1) \| Respond to of 1722

J & J 3rd-Qtr Profit Seen at 70C a Share: Earnings Outlook Bloomberg News October 9, 1998, 5:10 p.m. ET Expected Earnings Johnson & Johnson's third-quarter earnings are expected to rise to 70 cents a share, based on the average estimate of analysts surveyed by First Call Corp., on rising sales of drugs, including one for anemia. A year earlier, the maker of Band-Aids, the painkiller Tylenol and Neutrogena hair and skin-care products earned 63 cents a share. Time New Brunswick, New Jersey-based J&J plans to release its earnings Tuesday morning. Behind the Numbers J&J is looking to its pharmaceutical business, including blockbuster drugs such as the schizophrenia drug Risperdal and the anemia treatment Procrit, to raise its profits amid sluggish sales for other products. J&J lost its near monopoly on sales of a profitable medical-device, coronary stents used to prop open once-clogged coronary arteries. J&J now has a minor share of a potential $1 billion U.S. coronary stent market because Guidant Corp., Arterial Vascular Engineering Inc. and Boston Scientific Corp. have introduced better versions of the device in the past year. What the Experts Say ''Procrit will be the driver and Risperdal is doing well,'' said George Gilbert, an analyst with Northern Trust, which holds about 9.5 million Johnson & Johnson shares, according to regulatory filings. ''They're struggling with stents clearly and other kinds of products are bumping along flattish.'' Previous Market Reaction J&J rose 2 7/16 to 74 1/4 on July 14 after its second- quarter profit rose 11 percent, matching estimates. Market Performance Johnson & Johnson shares have risen 2.4 percent since it reported earnings July 14. In the same period, the Standard & Poor's Health Care Diversified Index declined 9.5 percent and The Standard & Poor's 500 Index has fallen 16 percent. --Kerry Dooley in the Princeton newsroom (609) 279-4016 /mfr