Here are five things to know.
1. Lawmakers, lobbyists and industry executives expect Mr. Trump to completely repeal the Medical Device Tax, which was imposed in 2013 as a funding mechanism for the ACA, according to the report.
2. The Medical Device Tax entails a 2.3 percent excise tax on the sale of certain medical devices, payable by the manufacturer or importer of the device.
3. Immediately following the Nov. 8 election, the Advanced Medical Technology Association — an industry lobbying group — wrote a letter to Mr. Trump and Vice President-elect Mike Pence, calling for the permanent repeal of the tax.
4. Scott Whitaker, AdvaMed’s president, wrote in the letter: “The medical device tax has been a significant drag on medical innovation and resulted in the loss or deferred creation of jobs, reduced research spending and slowed capital expansion,” according to Reuters.
5. Last year, in response to industry pressure, Congress temporarily suspended the excise tax on the sale of non-retail medical devices like pacemakers, heart valves and artificial hips.
More articles on supply chain:
More than 150k US workers quit factory jobs in October
Bristol-Myers Squibb to pay $19.5M for promoting off-label use of Abilify
Express Scripts stock tumbles 9% after short-seller’s ‘take-down’ tweet
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
