Here are four notes:
1. The tax applied to devices such as needles, syringes, coronary stents, defibrillators and irradiation equipment. Hearing aids, eyeglasses, contact lenses and other items were exempt.
2. The following reductions were observed as a result of the tax:
- R&D expenditures – $34 million
- Sales revenue – $188 million
- Gross margins – $375 million
- Earnings – $68 million
3. The tax also affected operating and marketing costs for manufacturers, the study said.
4. An appropriations act passed by Congress in 2015 put a two-year moratorium on the tax. The moratorium was extended to 2020.
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