Johnson & Johnson proved its resiliency against the effects of a global economic downturn and competition against two of its top-selling medicines in the fourth quarter, but executives said yesterday it wasn’t enough to prevent a history-making slide in the company’s annual sales.

The New Brunswick-based health care giant, which makes everything from face cleansers and contact lenses to powerful cancer drugs, showed a drop in sales for the first time in 76 years.

In a conference call with Wall Street analysts, chief executive officer William Weldon described the past 12 months as “one of the most difficult years in the company’s history.” Read Full Story At