Exclusive outtakes from industry leaders
Makers of medical tests, implants and other devices face anywhere from $2 billion-a-year in industry-wide taxes in the House of Representatives’ health reform bill passed on Saturday to $4 billion-a-year under a Senate version.
The Senate measure’s tax is not deductible and would be applied much like the tobacco settlement from cigarette makers years ago, said Beckman Coulter CEO Scott Garrett.
“That hurts, that stings to be treated like the tobacco industry,” he told the Reuters Health Summit in New York.
It could hurt customers — hospitals, patients and others — too. Companies have said they would have pass along any higher costs from the tax directly onto users.
A dozen Reuters reporters are covering the annual Reuters Health Summit in New York, featuring speakers from the world’s leading healthcare companies, including Pfizer, GlaxoSmithKline, Merck, Novartis, AstraZeneca, Novo Nordisk and Eli Lilly, plus top insurers and the commissioner of the Food and Drug Administration. Follow the action as it happens: