J&J's earnings slip further as currency benefit evaporates and generics rise
This article was originally published in Scrip
Executive Summary
Johnson & Johnson's 2009 profits have continued to fall because of the acute rise of generic competition and the strengthening of the US dollar. Second-quarter net earnings slipped by 4% to $3.2 billion, sustaining the downward trend set during the first quarter, when earnings fell by 3% to $3.5 billion.