Johnson & Johnson reported on 13 October 2009 that third-quarter revenue from pharmaceuticals fell 14.1% to US$5.3 billion (Euros 3.59 billion) compared to the prior-year period, due to generic competition and the negative impact of currency exchange. Net income for the three-month period increased 1.1% to US$3.3 billion (Euros 2.23 billion), due in part to reduced costs from job reductions and the consolidation of the company's management structure.
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Generics
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