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Johnson & Johnson quarterly sales beat expectations

Johnson & Johnson quarterly sales beat expectations
FILE PHOTO: The Johnson and Johnson logo is seen at an office building in Singapore January 17, 2018. REUTERS/Thomas White/File Photo   -   Copyright  Thomas White(Reuters)
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(Reuters) – Johnson & Johnson <JNJ.N> reported better-than-expected fourth-quarter revenue on Tuesday, helped by strong demand for its drugs to treat cancer and psoriasis.

Overall sales rose to $20.39 billion from $20.20 billion, above the average Wall Street estimate of $20.20 billion, according to IBES data from Refinitiv.

The company posted net profit of $3.04 billion, or $1.12 per share, for the fourth quarter, compared with a loss of $10.71 billion, or $3.99 per share, a year earlier, when it recorded a $13.6 billion charge related to changes to the U.S. tax law.

(Reporting by Manas Mishra in Bengaluru; Editing by Saumyadeb Chakrabarty)

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