Boston Scientific Proactive in REPEAL OF ONEROUS $20 BILLION "iNNOVATION TAX
that came into being with Obama Care being reviewe by Supreme Court now.
Boston Scientific Supports Passage of the Protect Medical Innovation Act
7:07p ET June 7, 2012 (PR NewsWire) Boston Scientific (NYSE: BSX) applauds the passage today by the House of Representatives of HR 436, the "Protect Medical Innovation Act." This bill would repeal the onerous $29 billion "Innovation Tax" included in the healthcare reform bill passed by Congress in 2010. Leading up to today's vote, thousands of company employees have contacted their U.S. lawmakers to express concern about the medical device tax and urge repeal.
"This innovation-killing tax will have a significant negative effect on our ability to invest in new therapies for the patients we serve," said Hank Kucheman, chief executive officer at Boston Scientific. "Our industry is an American success story built upon the ingenuity and inventiveness of thousands of people who work every day toward saving or improving the quality of patient lives. During this time of economic uncertainty, policymakers should be doing everything possible to create and nurture jobs like these."
"We appreciate the hard work and thoughtfulness of Members of Congress who have advocated repeal, particularly Rep. Erik Paulsen (R-MN), the lead sponsor of HR 436," said Mike Mahoney, president of Boston Scientific. "These Members recognize the immense value our employees and technologies bring to our economy and healthcare system. The innovation process is already challenging. Repealing this ill-conceived tax is a critically important step for Congress to take. We hope the Senate will follow suit shortly."
About Boston Scientific
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices that are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.