Perrigo Buys Irish Drug Firm; Plans to Shift HQ to Ireland

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

perrigoALLEGAN COUNTY, Mich. — West Michigan pharmaceutical giant Perrigo has purchased the Irish drug firm Elan in a deal worth $8.6 billion.

According to BBC News, the combined firm will be headquartered in the Republic of Ireland, where corporation tax is 12.5 percent.  That’s compared to the 35 percent rate here in the United States.

The boards from both companies have approved the deal.

In addition to the savings from shifting headquarters, Perrigo expects to make separate tax savings of more than $150 million.

Perrigo’s current headquarters are located in Allegan County.  The company makes unbranded over-the-counter pharmaceutical products for stores to label as their own.  In this deal with Elan, they will pay $6.25 per share in cash and $10.25 per share in stock.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


  • John

    Love this story-prime example of why the US can't get its economy back to normal. People and companies want to keep their money, not give it to governments who waste it on pet projects and other wasteful endeavors.