J&J posts higher first-quarter 2010 profit, boosted by one-time gain, but lowers forecast; updates on Truvada combo n HIV

US health care giant Johnson & Johnson reported that first-quarter 2009 profit rose 29% to $4.53 billion, or $1.62 per share, mainly as a result of a one-time $910 million gain from litigation (that with Boston Scientific over a stent patent infringement), excluding which net income increased 3.1% to $3.6 billion, or $1.29 per share.

The group posted a 4% rise in sales to $15.63 billion, most of which was due to a 4% boost from the impact of currency exchange rates. However, J&J said US sales were down 5%, but international revenues advanced 14.4%, reflecting operational growth of 5.5% and a positive currency impact of 8.9%. Prescription drug turnover dropped 2.5% to $5.6 billion, while sales of medical devices and diagnostics rose 12.5% to $6.2 billion and consumer products edged 1.5% higher to $3.8 billion.