Janssen reports sharp increase in profits

A subsidiary of US-headquartered Johnson & Johnson, Janssen recorded post-tax profits of €3.2bn after paying corporation tax of €396m.

Pre-tax profits at the main Irish unit of pharma giant, Johnson & Johnson last year surged by €1.32bn or 58% to €3.596bn.

New accounts filed by the Cork-based Janssen Sciences UC show that the business recorded a sharp increase in profits as revenues rose by 9% from €8.05bn to €8.79bn in the 12 months to the end of January 2 last.