J&J lifts 2016 estimates as dollar weakens

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J&J lifts 2016 estimates as dollar weakens

J&J lifts 2016 estimates as dollar weakens
(Reuters) - Johnson & Johnson beat quarterly earnings forecasts and slightly boosted its 2016 outlook, citing strong prescription drug revenue and a weakening dollar that will help improve sales in overseas markets. In a possibly encouraging signal for other drugmakers that will be reporting results in coming weeks, J&J said the strong dollar took a 3.3 percent bite out of global sales - half the impact in the prior quarter - as the currency's value eased somewhat.

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