Devicemakers bemoan Supreme Court's healthcare ruling

Yesterday's Supreme Court ruling on the Affordable Healthcare Act meant one thing for device companies: For now, the 2.3% tax on U.S. sales is still coming in January. And the reaction was as you'd expect. Cook Medical's chairman described the tax as "job-killing" said the ruling forces devicemakers to foot the bill for health reform "instead of investing in new medical technologies that can save lives." Biomet's vice president was more direct: "We believe that the medical device tax is misdirected policy." AdvaMed affirmed that it supports the long-term goals of health reform, but restated its condemnation of the 2.3% charge. Not everyone was so glum, however. Medtronic ($MDT) seems to have resigned to paying the tax, saying it has been preparing for the hit since before the act passed. Cook statement | Biomet and AdvaMed | Medtronic

Suggested Articles

Takeda tapped Roche’s Foundation Medicine to develop tissue- and blood-based companion diagnostic tests for its portfolio of lung cancer therapies.

Cellex has announced plans to develop a rapid coronavirus test that people can fully perform at home, from sample collection to result, using an app.

More than 20 states either don’t release or have incomplete data on the rapid antigen tests now considered key to containing the coronavirus.