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The
company's shares were up about 3 percent at $127 in premarket
trading on Tuesday. Up to Monday's close, they had gained about
20 percent this year.
J&J, which is the first major U.S. drugmaker to announce
quarterly earnings, raised its 2016 sales forecast to a range of
$71.5 billion to $72.2 billion from $71.2 billion to $71.9
billion.
Sales of the maker of medical devices, drugs and personal care
products rose 3.9 percent to about $18.5 billion in the second
quarter.
Pharmaceutical sales rose 8.9 percent to $8.6 billion due to
increased demand for its Imbruvica cancer drug and Xarelto blood
thinner.
Sales of Remicade, J&J's biggest product, rose 6.7 percent to
$1.78 billion.
However, the company's net earnings fell to $3.997 billion, or
$1.43 per share, from $4.516 billion, or $1.61 per share.
Excluding special items, the band-aid maker earned $1.74 per
share.
Analysts on average had expected a profit of $1.68 per share on
revenue of $17.98 billion, according to Thomson Reuters I/B/E/S.
(Reporting by Natalie Grover in Bengaluru; Editing by Savio
D'Souza and Sriraj Kalluvila)
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