Medtech leaders: Device tax hurts innovation

11/15/2012 | Politico (Washington, D.C.)

The U.S. occupies 40% of the global medtech market, creating a $5.4 billion trade surplus, but that could change if the 2.3% medical device tax is allowed to take effect next year, write Dan Moore of Cyberonics, Greg Sorensen of Siemens Healthcare North America and Timothy M. Ring of C. R. Bard in this article. "Put simply, this is a tax on innovation, and it is going to hurt American workers and patients most," they write. The tax is already having an effect, as companies are canceling growth plans and trimming R&D budgets in anticipation.

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