Johnson & Johnson posts a 6-per-cent decline in third-quarter profit, as larger overhead and production costs and a one-time charge offset higher foreign sales.
The health care giant says profit was $3.2-billion, or $1.15 per share. That’s down from $3.42-billion, or $1.23 per share, a year earlier.
Excluding a 9-cent charge for the pending acquisition of medical device maker Synthes Inc., profit would have been $3.4-billion, or $1.24 per share.
The maker of baby products and biologic drugs had revenue totalling $16-billion, up 7 per cent from a year ago.
Analysts polled by FactSet were expecting earnings per share of $1.21 and sales of $16.02-billion.
Sales in all J&J three divisions were down in the U.S.