Proposed tax on device makers draws criticisms from J&J executives

10/13/2009 | Miami Herald (free registration), The

A recently passed Senate proposal that would impose $4 billion in annual taxes on device firms for 10 years is too high and might stifle innovation and result in job losses in the U.S., said Dominic Caruso, Johnson & Johnson's chief financial officer. "We're hopeful that we can get legislation through that's fair but also permits an environment of innovation," said Alex Gorsky, J&J's chief of medical devices and diagnostics.

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Miami Herald (free registration), The

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