Johnson & Johnson Profit Up 18%

Johnson & Johnson said first-quarter profit rose 18% as sales increased for products ranging from drugs to treat anemia and arthritis to devices used in heart procedures.

J&J; posted a quarterly profit of $1.83 billion, or 59 cents per share, a penny ahead of analysts’ estimates. Sales at the New Brunswick, N.J.-based firm rose 11% to $8.74 billion.

J&J;’s healthy performance is bolstered by its lead in the race to launch a drug-coated stent--a revolutionary device that props open clogged heart arteries and delivers a drug to keep them from reclosing.

Johnson & Johnson shares rose $1.10 to $63.26 on the NYSE.