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New Jersey-Based Johnson & Johnson Posts 20 Percent Rise in Earnings.

By Lewis Krauskopf, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News

Oct. 15--Johnson & Johnson posted a 20 percent rise in net earnings for the third quarter Tuesday, helped by sales from a new heart device and favorable currency exchange rates.

Overall sales at the diversified New Brunswick-based health-care giant rose to $10.5 billion for the quarter, despite declines in its biggest-selling product. Sales of the anemia treatment Procrit fell 8 percent to just more than $1 billion in the quarter because of competition from a new produc

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