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Johnson and Johnson, Inc.

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Johnson & Johnson beat earnings expectations yet again in the first quarter – the company recorded growth on the back of strong pharma product sales. However, the company cut its earnings outlook to reflect the strengthening U.S. dollar. While we expect the company to continue facing headwinds in the form of negative currency movement, EU pricing pressure, manufacturing issues and U.S. healthcare reform, we believe Johnson & Johnson’s diversified business model, lack of cyclicality and strong financial position will continue helping the company pave its way through tough situations. New products as well as core products should continue performing well.

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