J&J Profit Falls 20 Percent in Q2

Johnson & Johnson has posted its financial results for the second-quarter 2011 with a 20 percent profit drop.

Health care giant Johnson & Johnson announced Tuesday its financial results for the second-quarter 2011.

A huge currency swing improved J&J's results. U.S. pharma revenues were up 4% to $3.2 billion for the quarter, and 5% for YTD to $6.6 billion. International pharma sales were up 23% in 2Q to $3.0 billion, but more than half of that gain came from currency rates. For YTD, international pharma revenues were up 16%, with slightly less than half coming from favorable exchange rates, to $5.6 billion.

Sales of Stelara more than doubled in 2Q to $176 million. Remicade revenues were up 21% in 2Q to $1.4 billion. U.S. consumer product revenues dropped 9% to $1.3 bill