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J&J Sees No Obstacles From Absence of Tax Reform

Johnson & Johnson's (JNJ) CFO Dominic Caruso told investors on a Tuesday morning conference call that its future dealmaking possibilities don't rely on the passage of international tax reform, though he did say he views there being more bipartisan support for such legislation than in the past. At the same time, the exec voiced his opposition to the California drug pricing ballot measure known as Prop 61.

Besides having plenty borrowing capacity, Caruso said on the company's third quarter earnings call that J&J has had the benefit of being able to structure transactions...