Irish Court Rejects Perrigo's Bid To Quash $1.92B Tax Bill

Law360 (November 4, 2020, 8:12 PM EST) -- Pharmaceutical maker Perrigo failed Wednesday in its bid to get Ireland's High Court to dismiss a €1.64 billion ($1.92 billion) tax assessment that the Irish company has derided as an abuse of power by the national tax authorities.

The bill stems from the 2013 sale of Perrigo's 50% stake in Tysabri, a drug used to treat multiple sclerosis and Crohn's disease, to U.S.-based Biogen Inc. Perrigo claimed the November 2018 assessment by the Revenue Commissioners, Ireland's tax authority, violated its rights.

But the High Court said the company hadn't made a case for undercutting the assessment, which arose from what the...

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