Perrigo Expects Settlement To Lower Irish Tax Debt
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.
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Jim Dillard, chief scientific officer for Perrigo since 2019, moves to head the North American business with research and development experience as well as a regulatory background from his work at the FDA.
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.
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.”