Johnson & Johnson Says Profit Rises 12%

Johnson & Johnson’s second-quarter profit rose 12% on increased sales of drugs to treat anemia and arthritis and devices used in heart procedures.

Net income rose to $1.65 billion, or 54 cents a share, from $1.48 billion, or 48 cents, a year earlier. Sales at the New Brunswick, N.J.-based company rose 11% to $9.07 billion.

Johnson & Johnson shares rose $1.10 to $50.10 on the New York Stock Exchange.