TRENTON, N.J. (AP) Johnson & Johnson said yesterday it would reduce its global work force by up to four percent, or up to 4,820 jobs, to cut costs due to a slump in sales of its heart stents and its No. 2 drug, plus coming patent expirations for key drugs.

The health care giant, which employs about 120,500 people in 57 countries, said the restructuring its largest ever would bring pretax charges of $550 million to $750 million later this year, as well as other, unspecified steps besides job cuts.

Excluding the charges, the New Brunswick, New Jersey-based maker of contraceptives, contact lenses, prescription drugs and baby products still expects to meet its 2007 profit targets. The company said the moves should generate pretax, annual cost savings of $1.3 billion to $1.6 billion next year and similar amounts after that.

Johnson & Johnson shares rose 43 cents to $60.50 in regular trading, then rose 53 cents in after-hours trading.

"The actions we are taking are to ensure we've addressed the short-term pressures on the business," chief executive officer William Weldon told analysts during a conference call. "We believe we actually will be strengthening ourselves coming out of all of this."

The company is not yet saying which facilities will be affected, but managers began to notify employees about job cuts Wednesday morning. J&J said it plans to use attrition and hiring freezes in some businesses.

Johnson & Johnson, the world's No. 5 drugmaker according to IMS Health, said the restructuring primarily targets Cordis Corp., its Miami-based stent-making unit, and its pharmaceuticals segment, which soon will face generic competition for two top drugs. Three of the company's top drugs, with combined sales of about $8.5 billion, are vulnerable.