Insights & Publications
© 2018 Debevoise & Plimpton LLP
The “Tax Cuts and Jobs Act” – How It Impacts the Healthcare Industry
7 November 2017
View Client Update
The Tax Cuts and Jobs Act bill released late last week contains several provisions likely to have a particular impact on the healthcare industry.
The bill contemplates changes in the corporate tax rate and international taxation that could affect pharmaceutical and other companies with significant overseas assets or cross-border operations.
The bill repeals the current 50% tax credit for costs of clinical trials of “orphan drugs” for rare conditions and repeals the deduction for certain catastrophic medical expenses.
Contrary to some expectations, the bill does not eliminate the excise tax on medical devices and does not repeal the tax on individuals who do not purchase health insurance (the “individual mandate”), both features of the ACA.
Mergers & Acquisitions
Andrew L. Bab
Jennifer L. Chu
Mark P. Goodman
Gary M. Friedman
View More Authors
Debevoise Prevails in Precedent-Setting Tax Case at North Carolina Supreme Court
Debevoise Partner Paul D. Rubin among Panelists at ACI’s 6th Annual Legal, Regulatory and Compliance Forum on Dietary Supplements
Debevoise Partner Jennifer L. Chu Speaks at PLI Seminar on Acquiring and Selling Privately Held Companies
AT&T/Time Warner Merger Clearance Paves Way for Future Transactions
UK Modern Slavery Act Transparency Statement
Debevoise Women's Review