A PYMNTS Company

Ireland: US pharma nabs low tax rates in reverse merger

 |  March 20, 2014

US-based pharmaceutical firm Horizon Pharma announced Wednesday it will acquire Ireland-based competitor Vidara, a $660 million reverse merger that will allow Horizon to take advantage of low taxes overseas.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Reports say Horizon is set to relocate its headquarters to Ireland through the buyout, which will result in a company known as Horizon Pharma PLC, with 74 percent of the new company being owned by Horizon.

    According to reports, Horizon is only the latest pharmaceutical giant to utilize mergers to nab lower taxes in Ireland. Perrigo acquired Ireland-based Elan in a $8.6 billion deal, while Canada’s Paladin merged with Ireland’s Endo Health Solutions.

    Full Content: Fox Business

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.