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Executive Summary

Johnson & Johnson worldwide pharmaceutical sales increased 26% in the second quarter to $829 mil. and are ahead 23% through the first six months of 1990 at $1.6 bil. U.S. pharmaceuticals posted an "exceptionally strong" 31% increase to $351 mil., while overseas revenues advanced 22.6% to $478 mil. in the second quarter, J&J reported. Through six months, U.S. drug segment sales rose 22.7% to $666 mil. and international revenues totaled $961 mil., up 24%. The domestic increases were paced by Janssen USA, which had "significantly higher" revenues, J&J said, fueled by Hismanal, which posted "strong year-to-year comparisons," "strong" sales of Nizoral, Imodium, Janssen's anesthesiology product line and overseas introductions of Eprex (EPO). Quarterly corporate revenues jumped 18.2% to $2.8 bil. and are 17.1% higher for the year so far at $5.7 bil. Consolidated net income for the second quarter was $353 mil., up 18.9%. Year-to-date earnings, however, slipped 2.8% to $597 mil. due to a first quarter one-time charge "for the permanent impairment of certain assets and operations in Latin America."

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