Johnson & Johnson plans to seek approval for 11 new medicines between now and 2015 as it drives a revival of its pharmaceuticals business.

The diversified healthcare company, whose prescription medicines have dragged down company earnings in the past two years due to generic competition, also plans to seek more than 30 approvals for product line extensions over the same time period.

J&J highlighted its strategy on Thursday ahead of a six-hour meeting with analysts to review its pharmaceuticals business.

The company also plans to expand geographically, including increasing investments in emerging markets. It also cited Japan as a key growth market, with the company planning to launch seven drugs in the country this year.

J&J last month reported stronger-than-expected quarterly earnings as rebounding prescription drug sales overshadowed declines in sales of over-the-counter medicines that have been plagued by recalls.

( Source: Reuters )