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Johnson & Johnson delivered quarterly earnings that topped analysts' expectations on Tuesday.
The diversified health care giant posted second-quarter earnings of $1.71 per share, up from $1.66 a share in the year-earlier period.
Revenue fell to $17.8 billion from $19.50 billion a year ago.
Wall Street forecast Johnson & Johnson would report quarterly earnings per share of $1.68 on $17.76 billion in revenue, according to consensus estimates from Thomson Reuters.
The company also said it experienced a negative currency impact of 7.9 percent during the second quarter. Nevertheless, it revised up its full-year guidance to $6.10-$6.20 per share.
Last month, Johnson & Johnson announced that its schizophrenia treatment, Invega Trinza, was approved by the FDA and commercially available in the U.S. The drug is administered through an injection four times a year, using the seasons as a measurement. It is the longest dosing interval available for treating the disease.
"With this newly available treatment option, healthcare providers can give patients greater independence by enabling them to focus less on taking their medication and more on other aspects of their treatment plan," according to a company press release.
Shares of the company have decreased about 4 percent year to date, but were up nearly 1 percent in premarket trading.
What is the company's stock doing now? (Get the latest quote here.)
—CNBC's Terri Cullen contributed to this report.