New York pharma firm paid $400m from Irish subsidiary

22nd December, 2014

A New York pharma firm paid more than $400 million in dividends from its Irish operations back to the US, just months before the firm was acquired, new filings reveal.

Forest Laboratories made the massive payments after recording a pre-tax profit of $426 million at its Irish unit in the financial year to the end of last March. The Irish company, Forest Laboratories Holdings, has notched up large profits in recent years, including almost $80 million...

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