J&J reports 11.9 percent fall in quarterly profit

Reuters News
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Posted: Oct 17, 2017 6:48 AM

(Reuters) - Johnson & Johnson <JNJ.N>, which completed its $30 billion acquisition of Swiss biotech Actelion in June, reported a 11.9 percent fall in quarterly profit as costs rose.

The company's net earnings fell to $3.76 billion, or $1.37 per share, in the third quarter from $4.27 billion, or $1.53 per share, a year earlier.

However, the diversified healthcare company's sales rose 10.3 percent to $19.65 billion in the quarter.

(Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Anil D'Silva)