Johnson & Johnson
The diversified health products maker outlined its plans to address five therapeutic areas in a daylong meeting for analysts to review its pharmaceutical operations.
We are very optimistic about our future in pharmaceuticals, Sheri McCoy, J&J's worldwide chairman of pharmaceuticals, said in a statement as the company held the meeting in its hometown of New Brunswick, New Jersey.
With its overall prescription drug sales now falling because of patent lapses, J&J has projected flat earnings this year -- in contrast to the double-digit earnings growth it has consistently achieved in past years.
But Wall Street is optimistic that J&J's prescription drugs will again be an engine of revenue and earnings growth starting next year.
(Reporting by Ransdell Pierson and Lewis Krauskopf; Editing by Lisa Von Ahn)