An analyst at JPMorgan Chase said medical device makers have agreed to a tax on the industry to help pay for health reform, but at half of the projected $4 billion annual tax that health reform planners had proposed, according to a report by Bloomberg News.
The analyst, Michael Weinstein, said the device industry has now abandoned "its hard-line stance against increased taxation" but cautioned that the actual amount is "far from final."
Under a deal with White House and Senate negotiators, Mr. Weinstein said the industry is likely to end up paying 1.5-2 percent of $120 billion in U.S. sales revenue.
Read Bloomberg News’ report on the medical device tax.
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