"The increase in profitability has mostly to do with the growth of three or four pharmaceuticals, including Remicade and Procrit," the prescription anemia drug, Lebor said.
Johnson & Johnson employs 6,500 in the Philadelphia region, including 2,200 at McNeil Consumer & Specialty Pharmaceuticals and two other Johnson & Johnson companies in Fort Washington, and 1,700 at Centocor.
The world's fifth-largest drugmaker announced last week that it was also acquiring 3-Dimensional Pharmaceutical Inc., of Yardley.
J&J said sales of Remicade to treat the bowel disorder Crohn's disease and rheumatoid arthritis soared 80 percent in the quarter to $379 million.
Sales of the Duragesic skin patch to treat pain rose 42 percent to $320 million, while those of the antipsychotic medicine Risperdal jumped 23 percent to $568 million. And worldwide sales of its anemia drug Procrit jumped 36 percent to $1.1 billion.
"Being broadly based has served us very well," particularly in medical devices, pharmaceuticals, and J&J's consumer business, William Weldon, the company's chairman and chief executive officer, said.
J&J's capacity to make Remicade doubled last year when the FDA authorized a Centocor plant in Malvern to make it.
The pending acquisition of 3-Dimensional Pharamceuticals "will add expertise in discovery and development of new drugs. Investments in technology and science are the key to our future," Weldon said.
J&J, of New Brunswick, N.J., hopes to win approval from U.S. regulators this year for Cypher, a stent coated with a drug to keep arteries from reclogging. The product is already sold in Europe and other countries, and J&J claims a 30 percent share in the stent market.
Sales of the company's consumer products - including Tylenol, Motrin, Splenda, Viactiv, Lactaid and Band-Aids - rose 6.4 percent to $1.65 billion in the fourth quarter.
Weldon called the Band-Aid liquid bandage "a revolutionary product and yet another example of the diverse capabilities within Johnson & Johnson.
"Some see the industry as ripe for consolidation," he said. "We view this as a time to further broaden our reach in health care."
Contact staff writer Linda Loyd at 215-854-2831 or firstname.lastname@example.org.
Company (Symbol) Exchange
Johnson & Johnson (JNJ) NYSE
4 qtr. '02 4 qtr. '01 Pct.
end 12/31 end 12/31 chg.
Revenue (millions) $9,403 $8,225 +14
Net income (millions) $1,438 $1,105 +30
Per share $0.48 $0.36 +33
12 mo '02 12 mo '01 Pct.
Revenue (millions) $36,298 $32,217 +13
Net income (millions) $6,651 $5,668 +17
Per share $2.18 $1.84 +18