Perrigo Expects Trans-Atlantic Boost: Eliminating Irish Tax Debt, Importing European Brands
In investor conference presentations, CEO Kessler says “we have a very strong case that the way we filed those taxes was correctly and the assessment should be 0,” and bringing its European consumer health brands to the US is “finally starting to really happen.”
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OTC private label/store brand giant announces Irish authorities allow it to pay $308.7m to settle a $1.9bn assessment for back taxes ordered in 2018 linked to Rx ingredient royalty rights it gained in its 2103 merger with Elan.
Ireland’s Office of Revenue concluded it “would not object if the Tax Appeals Commission adjusted the amount of the assessment to less than €1 billion,” says Perrigo CEO Murray Kessler.
"We are now a leading pure-play global consumer self-care company that has significant resources to invest,” says CEO Murray Kessler with Rx business sale closing.