$4 billion is routed through Ireland in tax deal
Irish-based pharma player Mallinckrodt last week closed a $5.6 billion deal for California-based Questcor Pharmaceuticals.
Billions of dollars worth of stock was routed through an Irish-based group of companies last week to fund the latest heavyweight pharmaceutical tax-driven buyout, company records show.
Irish-based pharma player Mallinckrodt, which is run from Missouri, last week closed a $5.6 billion deal for California-based Questcor Pharmaceuticals. The pair said that the tax rate on the purchased company’s business would drop by around 10 per cent after the sale.
So-called ‘tax inversion’ deals involve US...
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