Johnson & Johnson tops 2Q forecasts despite profit drop

Johnson & Johnson's second-quarter profit fell 11.5 percent, mainly due to a sizeable gain a year ago, but it easily beat Wall Street's expectations. The company also raised its full-year financial forecasts'

Its shares climbed in premarket trading Tuesday.

Sales of the health care giant's newest prescription drugs buoyed revenue and the effects of unfavorable exchange rates, which have been hurting U.

Johnson & Johnson tops 2Q forecasts despite profit drop