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STENTS DRIVE JOHNSON & JOHNSON SALES ESTIMATES

October 12, 2005

Banc of America Securities is raising 2005 sales estimates for Johnson & Johnson, citing likely market-share gains for the company's drug-eluting stent Cypher.

The analysts' belief that Cypher will be more successful than Boston Scientific's Taxus stent is driving an increase in sales estimates. Banc of America recently raised J&J's 2005 fiscal sales estimate by $40 million to $51.76 billion. However, the analysts have maintained a "neutral" rating and a $72 price target on J&J's stock.

"While third-quarter results should surprise on the upside, we await further clarity on the pending Guidant transaction and certain patent challenges on the drug side before revising our rating," the firm said.