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Johnson & Johnson posts higher sales, big 4Q profit jump

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Higher prescription drug sales helped push Johnson & Johnson’s fourth-quarter profit up by 32%

Higher prescription drug sales helped push Johnson & Johnson’s fourth-quarter profit up by 32%.

The world’s biggest maker of health care products on Wednesday reported net income of $4.01 billion, or $1.50 per share. That’s up from $3.04 billion, or $1.12, a year earlier.

Adjusted earnings came to $1.88 per share, matching the expectations of industry analysts, according to a survey by FactSet.

Total revenue edged up 1.7% to $20.75 billion.

The New Brunswick, New Jersey, based maker of baby shampoo and biologic drugs forecast 2020 revenue of $85.4 billion to $86.2 billion, and adjusted earnings per share of $8.95 to $9.10.

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