J&J raises 2016 forecast; shares on track for record high

(Reuters) – Johnson & Johnson raised its 2016 sales and earnings forecast and reported quarterly results that beat Wall Street estimates, helped by strength in its prescription drugs business.
Shares of the diversified healthcare company were up about 3 percent at $127 in premarket trading on Tuesday, on track to hit a record high at open.
J&J, which is the first major U.S. drugmaker to announce quarterly earnings, raised its 2016 sales forecast to a range of $71.5 billion to $72.2