Gorsky said that with the passing of the new tax reform bill last month, New Brunswick, N.J.-based Johnson & Johnson plans to repatriate $16 billion in overseas cash, according to the interview.
“We’re very pleased to see that the tax reform went through. I think the fact that we now actually have a competitive tax rate, that we’ve got a construct in place to repatriate earnings and cash from overseas is going to give us much more flexibility and make us more competitive,” Gorsky told CNBC in an interview.