Updated from 9 a.m. ETNEW BRUNSWICK, N.J. ( TheStreet) -- Johnson & Johnson's ( JNJ - Get Report) earnings beat came as its pharmaceutical division continued to reinvigorate its growth profile.
J&J received approval for three new drugs in recent months. J&J received marketing approval in the U.S. for a prostate cancer pill called Zytiga in April. The company was then granted approval for Edurant, a once-a-day HIV pill, in May, and for Xarelto, a drug used to prevent blood clots after knee and hip replacement surgeries, on July 1. Generic drugs have dragged on J&J's pharmaceuticals business in recent years, and the company, which also makes Band-Aids, replacement joints and birth control pills, among other things, hopes to gain approval for around 10 new drugs by 2015, including medicines used to treat Alzheimer's disease, diabetes and arthritis.
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