Earnings are solid for J&J

Johnson & Johnson has reported sales for the third quarter of 2009 down 5.3 per cent at $15.1bn.

Sales in Europe fell less sharply at $4.01bn, a 4.8 per cent decrease on the same quarter a year earlier. Net earnings for the quarter were up 1.1 per cent at $3.3bn despite negative currency fluctuations of 4.9 per cent.

Visioncare sales for the quarter were up 1.1 per cent worldwide and up by 1.2 per cent outside of the US. Total visioncare sales for the first nine months of 2009 are $1.89bn, down 1.4 per cent on the same period of 2008.

William C Weldon, the company's chairman and chief executive officer said: 'We continue to successfully manage our broad base of businesses and deliver solid earnings despite the impact of patent expirations and the challenges posed by the current economic environment.