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The American pharmaceutical and medical device company Johnson & Johnson has seen a drop in profits in the third quarter of 2012 due to increased costs.

The U.S. company announced that sales grew to $17.05 billion, compared to $16.01 billion for the same quarter last year. This represents an increase of 6.5 percent. Contributing to these results is the positive sales of medical products.

However, net income fell from $3.2 billion to $2.97 billion. Adjusted for special items, the EPS stood at 1.25 (previous year: 1.24) dollars. Analysts had been expecting revenue of $16.95 billion. For the current full year 2012, analysts expected a turnover of $67.2 billion.

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