Johnson & Johnson

Drug manufacturer Johnson & Johnson said its fourth-quarter earnings rose 12%, boosted by the introduction of new products and overall sales growth.

For the period ended Dec. 31, profit totaled $307 million, or 47 cents a share, up from $274 million, or 41 cents a share in the 1991 quarter.

Revenue was $3.5 billion, up 11.3% from $3.15 billion in the year-ago quarter.

Johnson & Johnson Chairman and Chief Executive Ralph Larsen noted that “over two-thirds of the sales gains represent strong unit volume growth.” He also said that more than 30% of the company’s worldwide sales in 1992 came from products introduced in the last five years.

Since drug makers are under pressure to hold the line on price increases, increased unit growth is critical to their success, as is the introduction of new products.

Larsen characterized the New Brunswick, N.J., company’s new products pipeline as “quite healthy.”