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J&J's earnings slip further as currency benefit evaporates and generics rise

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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.

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