NEW YORK: Johnson & Johnson reported a better-than-expected profit as sales of its older drugs helped to offset the impact of a strong dollar on revenue from outside the United States.

The company raised its profit forecast for the full year on Tuesday, citing strong underlying business growth.

The healthcare conglomerate raised its profit forecast to $6.10-$6.20 per share, from $6.04-$6.19. The company cut its profit forecast in April blaming the strong dollar.

Excluding the impact of the strong dollar, international sales would have grown marginally, the company said.

The company’s net profit rose to $4.52 billion, or $1.61 per share, in the second quarter, from $4.33 billion, or $1.51 per share, a year earlier.

Excluding special items, the company earned $1.71 per share. Revenue fell nearly 9 percent to $17.79 billion.

Sales of Olysio, the company’s hepatitis C treatment, fell nearly 70 percent to $264 million. The drug accounted for 7 percent of revenue last year.—Reuters