Perrigo Co. PLC will set up a launching pad to boost its net revenues by re-incorporating in Ireland, through its acquisition of specialty pharma Elan Corp. PLC, and escaping higher U.S. tax rates.
Perrigo’s Irish Move Sets Stage For International Boost, Net Revenue Gain
OTC private label leader Perrigo acquires Irish firm Elan for $8.6 billion in a deal that will bring tax savings from being incorporated in Ireland, provide a stage for European expansion and tap into Elan’s royalty rights. “Simply stated, we're going to be able to further our international platform,” CEO Joseph Papa says.
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