Johnson & Johnson profit rose 11% in second quarter

Article Abstract:

Johnson & Johnson announced that its earnings for the second-quarter of 1998 improved by 11%. The earnings figures met the forecasts of analysts. Johnson & Johnson's improved earnings resulted from higher schizophrenia and anemia drug sales. The company's net income increased to $1.01 billion, compared to $909 million during the same period in 1997. Johnson & Johnson's revenue improved 1.5% to $5.78 billion.

Comment:

Announced that its earnings for the second-quarter of 1998 improved by 11%

Company Planning/Goals, Article

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At J&J, a venerable strategy faces questions

Article Abstract:

CEO for the last 10 years and a 35-year Johnson & Johnson veteran, Ralph Larsen insists the company should hang with the current business model. Observers think perhaps it is too unwieldy the way it is, with three major units all vying for focus and resources: pharmaceuticals, medical devices and consumer-health products. Share prices of competitors have doubled while J&J's has risen only about 50%.

Comment:

CEO sees each of the three units as entrepreneurial

Strategy & planning, Medical Instruments and Supplies, Planning, Medical equipment and supplies industry, Consumer goods, JNJ

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Bristol-Myers says net falls after charge

Article Abstract:

Overall, Bristol-Myers Squibb Co. reported a 49% drop in net income, but, excluding litigation issues, profits rose 13%, as expected. World economy problems had their effect, but not on every segment in which the New York company does business. For example, prescription drug sales were up 15% due primarily to sales of its new cancer drug Taxol and diabetes drug Glucophage.

Comment:

Aside from litigation expenses, profits were as expected

Drugs & Pharmaceuticals, Pharmaceutical and Medicine Manufacturing, Drugs, Finance, Bristol-Myers Squibb Co., BMY

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