Full coverage: Pharmaceuticals

When demand for rapid medical tests exploded during the pandemic, the US pharma giant routed this business through Ireland and Malta to achieve a four per cent tax rate. This expanded into a multi-billion-euro business last year.

The current tech rout comes after LinkedIn Ireland posted another set of healthy results, prompting its owner Microsoft to extract massive value from the company. Meanwhile, more aircraft lessors are suing their insurers over planes seized by Russia, while separate new High Court proceedings pit major state bodies against international partners.

The Irish subsidiary of Novartis, the global pharma giant, has initiated legal proceedings against Accord Healthcare, the generic drugmaker.

The global pharma company targeting rare diseases was acquired for $39 billion by AstraZeneca last year. Half of this value consisted in intellectual property located in Dublin, new documents show.

For years, the Irish-headquartered medical supplier Covidien outsourced core functions to the US without paying Vat on transactions including preparations for its acquisition by Medtronic. The company’s successful tax appeal is now going down the legal route.

With over 200 staff, the Co Cork pharmaceutical factory was among those sold off by Pfizer in 2020 to combine with Mylan and form Viatris. New information is available on its first year of trading within the new group.

Through a series of mergers and demergers in the last decade, a global pharmaceutical manufacturer became Irish. To defend itself against a Vat claim, it had to reveal the details of the scheme.

Exchequer returns showed swings of hundreds of millions of euros between 2020 and 2021 following a dispute on emergency stamp duty rules. The exact details of the settlement reached between AbbVie and the tax authority, however, remain secret.

Mallinckrodt, a 155-year-old US pharmaceutical manufacturer, came to Ireland in 2013 to set up an intricate corporate and tax structure. After thousands of legal actions threatened to shut it down, its salvage deal has just cleared an Irish examinership.

Perigord, which designs artwork for the life sciences sector, sold a majority stake to Indian giant Tech Mahindra last year for €21 million. It has brought fire power and even more ambition to the business, says Perigord CEO Alan Leamy.