Perrigo CEO defends Elan acquisition

When news of Perrigo's friendly acquisition offer for Elan hit the news wires on the morning of 29 July, the over-riding reaction from observers was one of confusion. Why was this a good deal for Perrigo? Surely it could have taken advantage of the Irish tax system through the more cheaper option of relocating domicile to Ireland, just as Shire did a few years ago, rather than paying out cash and stock of $8.6bn (scripintelligence.com, 29 July 2013)?

When news of Perrigo's friendly acquisition offer for Elan hit the news wires on the morning of 29 July, the over-riding reaction from observers was one of confusion. Why was this a good deal for Perrigo? Surely it could have taken advantage of the Irish tax system through the more cheaper option of relocating domicile to Ireland, just as Shire did a few years ago, rather than paying out cash and stock of $8.6bn (scripintelligence.com, 29 July 2013)?

In a conference call later in the day, Perrigo's CEO Joseph Papa presented his rationale for the transaction. However, the...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Archive

Final Chance To Have Your Say: Take Scrip's Reader Survey This Week

 

Editor’s note: This is your final call to participate in the survey to better understand our subscribers’ content and delivery needs. The deadline is 20 September.

Shape Our Content: Take The Reader Survey

 

Editor’s note: We are conducting a survey to better understand our subscribers’ content and delivery needs. If there are any changes you’d like to see in the coverage topics, content format or the method in which you receive and access Scrip, or if you love it how it is, now is the time to have your voice heard.

Galapagos Expands Point-Of-Care CAR-T Study To The US

 

CEO Paul Stoffels said gaining US clearance for an IND for its novel CAR-T product was demanding, but now opens up a pathway towards a pivotal study starting in 2025.

Analysts Split On Eisai’s Chances Of Changing EU Regulator’s Mind On Leqembi

 

A final rejection of Leqembi could also spell the same fate for Lilly’s rival drug but public outcry and demand for Alzheimer’s therapies might force the regulator’s hand

More from Scrip

Chief Strategist O’Hara On Novavax’s Partnership-Focused Approach

 
• By 

A deal last year with Sanofi relieved Novavax of commercial costs for the COVID-19 vaccine Nuvaxovid, allowing the company to focus on R&D and finding partners for its other vaccines.

Pharma Gets A Compatriot At CDER With Tidmarsh Appointment To Top Spot

 

Drug manufacturers may find comfort in the appointment of former biotech CEO and entrepreneur George Tidmarsh to lead the FDA’s Center for Drug Evaluation and Research.

Alkermes To Advance Alixorexton After Positive Phase II Narcolepsy Results

 

The biotech company is planning for Phase III based on positive topline results from Vibrance-1 in narcolepsy type 1 and remains optimistic about type 2 disease.