J&J chief Gorsky bullish on tax reform, plans $16B in repatriated overseas cash


Johnson & Johnson CEO Alex Gorsky

Johnson & Johnson CEO Alex Gorsky [Image courtesy of J&J]

Johnson & Johnson (NYSE:JNJ) chief executive Alex Gorsky is bullish on the newly passed US tax reform, according to a new interview with CNBC.

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.

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