Johnson & Johnson 1Q profit down 22 pct.

Health care products maker Johnson & Johnson said Tuesday its first-quarter profit fell 22 percent as a large charge for an acquisition more than offset record sales.

The New Brunswick-based maker of contraceptives, contact lenses, prescription drugs and baby products reported net income of $2.57 billion, or 88 cents per share, down from $3.31 billion, or $1.10 per share, in the first quarter of 2006.

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- Posted: 2007-04-17 09:46:18

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