JOHNSON & Johnson, the world's largest maker of health-care products, said yesterday earnings rose 8 percent, boosted by overseas sales, foreign currency exchange rates and consumer products that defied the weak United States economy.

Net income for the second quarter climbed to US$3.33 billion, or US$1.17 a share, from US$3.08 billion, or US$1.05 a share, a year earlier, the New Brunswick, New Jersey-based company said in a statement distributed by PR Newswire. Adjusted earnings beat by five cents the US$1.13-a-share average estimate in a Bloomberg News survey of 14 analysts. Revenue increased to US$16.5 billion from US$15.1 billion.

Chief Executive Officer William Weldon pursued growth overseas to counter sluggish US sales and competition from low-cost generic drugs. Rising revenue from exchanging foreign currencies into weak US dollars and from consumer goods, led by baby-care products and Zyrtec allergy pills, offset slumps for the anemia drug Procrit, the anti-psychotic Risperdal, and Cordis, the unit that makes Cypher heart stents. The company raised its forecast for 2008 earnings to US$4.45 to US$4.50 a share, from the US$4.40 to US$4.45 predicted in April.

"It's kind of a steady-as-she-goes, safe-haven stock," said Les Funtleyder, an analyst with Miller Tabak & Co in New York, before the announcement.