Made in Ireland: Viagra and Botox, Claritin and Panadol

Viagra maker Pfizer is merging with Botox manufacturer Allergan. They’re just two of the top drugs in the world produced in Ireland

Given the opprobrium that greeted the news this week of Pfizer and Allergan’s $160 billion merger, you could be forgiven for thinking that Ireland serves only as a tax-efficient brass-plate location for the giants of the pharmaceutical world.

Yes, US companies are raising the ire of US politicians by seeking “inversions” that allow them to cut their tax bills by taking over companies in countries with lower tax rates – Ireland is among them – and then setting up their legal headquarters there.

Please subscribe or sign in to continue reading.
only €1 first month

Insightful opinion is just a away.