J&J Beats Profit Forecasts Even as Drug Sales Lag Estimates
- Lower tax rate helps health-care company surpass projections
- Board approves $10 billion buyback program, biggest since 2007
Inside Johnson & Johnson's Earnings Beat
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Johnson & Johnson beat analysts’ estimates for third-quarter profit as a lower tax rate helped the world’s biggest maker of health-care products overcome slightly weaker-than-projected sales for key drugs such as Remicade.
The also announced a $10 billion share repurchase program, the biggest not related to an acquisition since 2007.