J&J; Profit Rises 13%, Helped by Remicade

Johnson & Johnson said third-quarter profit rose 13% on higher sales of drugs for rheumatoid arthritis and schizophrenia.

Net income climbed to $2.34 billion, or 78 cents a share, from $2.07 billion, or 69 cents, a year earlier. Sales rose 11% to $11.6 billion.

Analysts surveyed by Thomson First Call had expected earnings of 76 cents a share.

Revenue gains of more than 20% for the rheumatoid arthritis drug Remicade and the antipsychotic treatment Risperdal compensated for sliding sales of anemia drugs and the Cypher drug-coated heart stent.

Johnson & Johnson shares rose $1.46 to $56.82 on the New York Stock Exchange.