Johnson & Johnson’s revenue has slumped for a second straight year, prompting its chief executive to make an extraordinary pitch to soothe investors and defend the company’s handling of 17 costly recalls.

The health care giant, hammered by the weak global economy, growing pricing pressures and recalls that have kept many popular nonprescription medicines off store shelves, reported Tuesday a 12 percent profit decline and a 5.5 percent drop in sales for the fourth quarter. Get the full story »