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Generic competition forces J&J's Q3 pharma sales down by 14%

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Executive Summary

Johnson & Johnson has reported a 14% drop in pharmaceutical sales in the third quarter, to $5.3 billion. The company as a whole saw revenues decline by 5% to $15.1 billion, partly because of negative currency effects (which dragged down the result by 2.5%) but to a greater extent because of generic competition for its pharmaceutical products, particularly in the US.

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