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词条 Perrigo
释义

  1. History

     Acquisitions  Acquisition history 

  2. Segments

  3. See also

  4. References

  5. External links

{{short description|Irish tax-registered pharmaceutical}}{{Use dmy dates|date=July 2015}}{{Use Irish English|date=July 2015}}{{Infobox company
|name = Perrigo Company plc
| predecessor = Perrigo Inc. (before the 2013 tax inversion to Ireland)
|logo = Perrigo logo.svg
|ISIN = IE00BGH1M568
|image =
|type = public liability company
|traded_as = {{NYSE|PRGO}}
{{TASE|PRGO}}
S&P 500 Component
|foundation = {{start date and age|df=yes|1887}}
| hq_location =
  • (Legal) Hogan Place, Dublin, Ireland
  • (Operational) Allegan, Michigan, USA

|key_people = Murray S. Kessler, President and CEO, Board Member
|industry = Pharmaceutical
|products = OTC, RX, API, Medical Diagnostic, pharmaceuticals
|revenue = {{profit}} US$3.540 billion (2013)[1]
|operating_income = {{profit}} US$805 million(2013)
|net_income = {{profit}} US$ 530 million (2013)
|num_employees = 10,220 (May 2015)
|homepage = {{URL|perrigo.com}}
| subsid = {{unbulleted list|Omega Pharma}}
}}Perrigo Company plc is an Irish–registered manufacturer of private label over-the-counter pharmaceuticals, and while 70% of Perrigo's net sales are from the U.S. healthcare system, Perrigo is legally headquartered in Ireland for tax purposes, which accounts for 0.60% of net sales.[2] In 2013, Perrigo completed the 6th–largest U.S. corporate tax inversion in history when it reregistered its tax status to Ireland to avoid U.S. corporate taxes.[3]

Perrigo engages in the acquisition (for repricing), manufacture, and sale of consumer healthcare products, generic prescription drugs, and active pharmaceutical ingredients (APIs), primarily in the United States, from its base in Ireland. On 21 December 2018, Perrigo suffered its biggest one-day share price fall in its history after the Irish Revenue Commissioners issued a tax claim against Perrigo that equated to half of its market value.[3][4]

History

{{see also|Corporation tax in the Republic of Ireland#Corporate tax inversions}}L. Perrigo Company was founded in 1887 in Allegan, Michigan, by Luther and Charles Perrigo, who ran a general store.[5]

In 1991 Perrigo had an Initial public offering on NASDAQ.

In March 2005 the firm acquired Agis Industries Limited (TASE:AGIS), an Israel-based generic pharmaceuticals company in an $850 million transaction. Agis was founded in 1983 by Mori Arkin who developed his father's small drug import business into a multinational generic pharmaceutical company. As a result of the acquisition, Arkin owned 9% of Perrigo, and was appointed as Vice Chairman of the company.[6]

In July 2013, Perrigo announced that it would execute a corporate tax inversion to Ireland in order to avoid U.S. corporate taxes, via an $8.6 billion acquisition of Irish–based Elan Corporation.[7] {{As of| November 2018}}, Perrigo is the 6th–largest U.S. tax inversion in history.[8][9][10] Over 70% of Perrigo's sales, and an even greater percentage of Perrigo profits, are from the U.S. healthcare system.[11][2]

In April 2015, Perrigo received an unsolicited buy-out offer from Mylan of $29 billion, which was ultimately rejected by management and shareholders.[12] In May 2016, Perrigo investors sued the company over statements made during the Mylan bid,[13] which were said to have persuaded shareholders to vote against the deal.[14][15] In the months prior to this suit, the company's chairman and CEO, Joseph Papa, who has been credited with "fending off" Mylan's bid, left to take the CEO role at Valeant.[16][17] Upon Papa's departure, John Hendrickson, who was at the time the company's president, took on the additional roles of chairman and CEO.[18][19] Hendrickson was succeed by Uwe Roehrhoff in January, 2018.[20] Murray S. Kessler is the current President and CEO.[21]

On 20 December 2018, the Financial Times reported that the Irish Revenue Commissioners levied a €1.64 billion (not including penalties and interest) Irish tax claim on Perrigo for unpaid capital gains tax (CGT) from the 2013 sale of Tysabri to Biogen by Elan, which happened months before Perrigo's acquisition of Elan.[22] The claim is the second largest ever issued by the Revenue Commissioners in Irish history, after Apple's €13 billion Irish tax fine.[22] On 21 December 2018, the Irish Times reported that Revenue claimed Perrigo owed CGT at a rate of 33% as an "asset sale", however Perrigo claimed that the sale was part of Elan's normal "trading income", and was subject to the lower 12.5% Irish corporate tax rate, which Perrigo was able to reduce to 0% using Ireland's multinational tax BEPS tools.[23]

Acquisitions

On 9 January 2008, the firm acquired Galpharm Healthcare, Ltd., a supplier of over-the-counter store brand pharmaceuticals in the United Kingdom.[24] On 16 September 2008, the firm acquired J.B. Laboratories.[25] On 6 October 2008, it acquired Laboratorios Diba S.A., enabling the company to market its products in Mexico.[26] On 13 November 2008, it acquired Unico Holdings, a manufacturer of store brand pediatric electrolytes, enemas and feminine hygiene products for retail consumers in the U.S.[27]

On 1 March 2010, the firm acquired Orion Laboratories Pty, Ltd., a supplier of over-the-counter (OTC) store brand pharmaceutical products in Australia and New Zealand.[28] On 23 March 2010, it acquired PBM Holdings, Inc., a producer of over-the-counter store brand infant formula and baby foods in the United States, Canada, Mexico and China.[29]

On 20 January 2011, the firm announced that it would acquire Paddock Laboratories Inc., with the deal expected to close in fiscal 2012.[30]

In September 2012, Perrigo announced its intention to enter the animal wellness category by acquiring the assets of Sergeant's Pet Care Products, Inc., a privately held manufacturer of over-the-counter companion animal healthcare products.[31]

On 11 February 2013, Perrigo announced the completion of the acquisition of Rosemont Pharmaceuticals Ltd., a specialty and generic prescription pharmaceutical company focused on the manufacturing and marketing of oral liquid formulations.[32]

On 29 July 2013, the firm announced that it would acquire Élan, a pharmaceutical firm based in Dublin.[33][34] The Élan acquisition enabled Perrigo to reincorporate as an Irish company using Élan's headquarters (although the executive offices remained in Allegan), lowering its effective tax rate (called a tax inversion).[35]

In November 2014, Perrigo announced it had agreed to buy Belgian health-products provider Omega Pharma approximately $4.5 billion (€3.6 billion).[36][37] The transaction was completed in March 2015.[38]

In August 2016, the company announced it would acquire US national distributor of over-the-counter medicines, Geiss, Destin & Dunn[39]

Acquisition history

The following is an illustration of the company's major mergers and acquisitions and historical predecessors:

{{clade | style=font-size:90%;line-height:110% |thickness=0
|label1=
|1={{clade
|label1= Perrigo
|1= {{clade
|label1= 
|1=Geiss, Proteon Therapeutics
(Acq 2016)
|2= {{clade
|label1= 
|1=Geiss, Destin & Dunn
(Acq 2016)
|2= {{clade
|label1= 
|1=Omega Pharma
(Acq 2014)
|3= {{clade
|label1= 
|1=Élan
(Acq 2013)
|4= {{clade
|label1= 
|1=Rosemont Pharmaceuticals Ltd
(Acq 2013)
|5= {{clade
|label1= 
|1= Sergeant's Pet Care Products Inc
(Acq 2012)
|6= {{clade
|label1= 
|1=Paddock Laboratories Inc
(Acq 2011)
|7= {{clade
|label2= 
|1=PBM Holdings Inc
(Acq 2010)
|8= {{clade
|label2= 
|1= Orion Laboratories Pty Ltd
(Acq 2010)
|9= {{clade
|label2= 
|1= Unico Holdings
(Acq 2008)
|10= {{clade
|label2= 
|1= Laboratorios Diba S.A.
(Acq 2008)
|11= {{clade
|label2= 
|1= J.B. Laboratories
(Acq 2008)
|12= {{clade
|label2= 
|1= Galpharm International
(Acq 2008)
|13= {{clade
|label2= 
|1= Agis Industries Ltd
(Acq 2005)
|14= {{clade
|label2= 
|1= L. Perrigo Company
(Founded 1887)

}} }} }} }} }} }} }} }} }} }} }} }} }} }} }} }} }}

Segments

The company operates in three segments; Consumer Healthcare, Rx Pharmaceuticals, and Active Pharmaceutical Ingredients. The Consumer Healthcare segment produces over-the-counter pharmaceutical and nutritional products in the United States, the United Kingdom, and Mexico. This segment offers analgesic, cough/cold/allergy/sinus, gastrointestinal, smoking cessation, first aid, antacids, hemorrhoidal remedies, motion sickness, sleep aid products, feminine hygiene products, vitamin, and nutritional supplement products.

The Rx Pharmaceuticals segment produces generic prescription drugs in the United States. This segment provides creams, ointments, lotions, gels, and solutions, as well as nasal sprays, foams, and transdermal devices. Believing that Rx business has the potential to realize greater value outside of Perrigo, board okays separation of prescription pharma business on 9 August 2018.[40]

The Active Pharmaceutical Ingredients segment produces pharmaceutical ingredients in Israel with sales to customers worldwide. The company also offers cosmetics, toiletries, detergents, manufactured and imported pharmaceutical products, and medical diagnostic products. The company’s customers include national and regional retail drug, supermarket, wholesalers, and mass merchandise chains.

See also

  • Corporate tax inversions
  • Ireland as a tax haven

References

1. ^{{cite news|last=Jones|first=Al|title=Perrigo Co. reports strong gains in sales and earnings for fourth quarter and full year|url=http://www.mlive.com/business/west-michigan/index.ssf/2011/08/perrigo_co_reports_strong_gain.html|accessdate=20 August 2011|newspaper=Mlive.com|date=16 August 2011|agency=Kalamazoo Gazette|location=Allegan|quote=Sales for the full year were $2.75 billion, up about 21.5 percent from $2.26 billion in fiscal 2010.}}
2. ^{{cite book|title=Perrigo Co plc: Form 10-Q (29 September 2018)|date=8 November 2018|publisher=Securities and Exchange Commission|quote=Disaggregation of Revenue|page=9}}
3. ^{{cite web|url=https://www.irishtimes.com/business/health-pharma/the-terrible-irony-of-perrigo-s-tax-planning-1.3739781|title=The terrible irony of Perrigo’s tax planning|publisher=Irish Times|author=Cantillion|date=21 December 2018}}
4. ^{{cite web|url=https://www.wsj.com/articles/perrigo-tax-shocker-couldnt-come-at-worse-time-11545408948|title=Perrigo Tax Shocker Couldn’t Come at Worse Time|publisher=Wall Street Journal|author=Charly Grant|date=21 December 2018}}
5. ^{{Citation | title = Perrigo Company - Company History | url = http://www.fundinguniverse.com/company-histories/Perrigo-Company-Company-History.html | journal = Funding Universe | accessdate = 2009-10-31}}
6. ^{{cite press release | title = Perrigo Company to Acquire Agis Industries, Creating A Leading Diversified Healthcare Company | url = http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/news_ir_114.11.15%20Perrigo%20to%20Acquire%20Agis.pdf |format=PDF| publisher = Company press release | access-date = 31 October 2009}}
7. ^{{cite web| url=https://www.reuters.com/article/elan/update-4-u-s-drugmaker-perrigo-to-buy-irelands-elan-for-8-6-bln-idUSL6N0FZ0MY20130729|title=UPDATE 4-U.S. drugmaker Perrigo to buy Ireland's Elan for $8.6 bln|date=29 July 2013|publisher=Reuters|quote=DUBLIN, July 29, 2013 (Reuters) - U.S. drugmaker Perrigo agreed to buy Elan for $8.6 billion in a deal that will hand it tax savings from being domiciled in Ireland and royalties from a blockbuster multiple sclerosis treatment.}}
8. ^{{cite web|url=https://www.thestreet.com/slideshow/14222919/1/as-treasury-moves-to-bring-back-inversions-here-are-seven-of-the-biggest-recent-deals.html|title=As Treasury Moves to Bring Back Inversions, Here are 7 of the Biggest Recent Deals|author=Emily Stewart|date=22 July 2017|publisher=TheStreet}}
9. ^{{cite web|url=https://www.washingtonpost.com/news/wonk/wp/2014/08/06/these-are-the-companies-abandoning-the-u-s-to-dodge-taxes/?noredirect=on|title=These are the companies abandoning the U.S. to dodge taxes|date=6 August 2014|publisher=The Washington Post|author=Danielle Douglas-Gabriel}}
10. ^{{cite web|url=https://www.bloomberg.com/graphics/tax-inversion-tracker/|title=Tracking Tax Runaways|publisher=Bloomberg News|date=1 March 2017|quote=Bloomberg Special Reports: Corporate Tax Inversions}}
11. ^{{cite web|url=https://www.forbes.com/sites/janetnovack/2014/09/10/the-tax-inversion-rush-in-one-handy-graphic/#4b2eac18bf02|title=The Tax Inversion Rush: One Handy Graphic|publisher=Forbes Magazine|author=Janet Novack|date=10 September 2014|quote=The U.S. company is in black, as is the share of the merged company its current shareholders will own; it must be less than 80% for the tax trick to work under the current law.}}
12. ^{{cite press release | publisher=Reuters| date=8 April 2015| title=Generic drugmaker Mylan offers $29 billion for Perrigo | url=https://www.reuters.com/article/2015/04/08/us-perrigo-company-m-a-mylan-idUSKBN0MZ1OX20150408}}
13. ^{{cite web|url=http://www.bna.com/investor-sues-perrigo-n57982072957/|title=Investor Sues Perrigo Over Disclosures in Mylan Hostile Bid|publisher=}}
14. ^{{cite web|url=http://www.bizjournals.com/pittsburgh/news/2016/05/24/lawsuit-filed-against-former-mylan-acquisition.html|title=Lawsuit filed against former Mylan acquisition target Perrigo - Pittsburgh Business Times|publisher=}}
15. ^{{cite web|url=http://www.law360.com/articles/818827/perrigo-investor-slams-co-over-mylan-s-failed-takeover|title=Perrigo Investor Slams Co. Over Mylan's Failed Takeover - Law360|publisher=}}
16. ^{{Cite news|url=http://uk.businessinsider.com/valeant-new-ceo-pay-package-2016-4|title=Now we know why Valeant's new CEO took the job, and it seems politicians are upset about it|last=Lopez|first=Linette|date=28 April 2016|work=Business Insider UK|access-date=13 March 2018}}
17. ^{{Cite journal|last=Wright|first=Rob|date=9 January 2018|title=Can Joseph Papa Save Valeant?|url=https://www.lifescienceleader.com/doc/can-joseph-papa-save-valeant-0001|journal=Life Science Leader|volume=|pages=|url-access=limited|access-date=13 March 2018|via=}}
18. ^{{Cite news|url=https://www.fiercepharma.com/pharma/perrigo-ceo-hendrickson-to-depart-after-rocky-13-month-turn-at-top|title=Floundering Perrigo's CEO Hendrickson to depart after rocky 13-month tenure|last=Helfand|first=Carley|date=6 June 2017|work=FiercePharma|access-date=13 March 2018}}
19. ^{{Cite news|url=http://www.ibtimes.com/valeant-joseph-papa-joins-pharmaceutical-company-chief-exec-perrigo-names-hendrickson-2359026|title=Valeant: Joseph Papa Joins Pharmaceutical Company As Chief Exec As Perrigo Names Hendrickson New CEO|last=|first=|date=25 April 2016|work=International Business Times|access-date=13 March 2018}}
20. ^{{cite web|url=https://www.reuters.com/article/us-perrigo-company-ceo-idUSKBN1EX0GR|title=Perrigo hires Gerresheimer ex-boss Rohrhoff as new CEO|date=8 January 2018|publisher=|via=www.reuters.com}}
21. ^{{cite web|url=https://investor.perrigo.com/2018-10-08-Perrigo-Appoints-Murray-S-Kessler-As-President-And-Chief-Executive-Officer-In-Line-With-Shift-To-Consumer-Focused-Strategy|title=Press Releases|website=Perrigo InvestorRoom}}
22. ^{{cite web|url=https://www.ft.com/content/c72affc0-04a4-11e9-99df-6183d3002ee1|title=Drugs group Perrigo hit with €1.64bn Irish back tax bill|date=20 December 2018|publisher=Financial Times|author=Authur Beesley|quote=The tax assessment is Ireland’s largest since the European Commission directed Apple to pay €14.3bn in disputed back taxes to Dublin in a record-breaking ruling that the Irish authorities have taken to the European courts for an appeal.}}
23. ^{{cite web|url=https://www.irishtimes.com/business/health-pharma/what-s-the-massive-perrigo-tax-bill-all-about-1.3739350|title=What’s the massive Perrigo tax bill all about?|publisher=Irish Times|author=Cliff Taylor|date=21 December 2018|quote=A twist is that Elan used accumulated losses to avoid paying any up-front tax bill at the time on the initial payment from Biogen.}}
24. ^ {{dead link|date=March 2019}}
25. ^{{cite web|url=http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/JBLABPR.pdf |title=Official Perrigo Company Press Release |format=PDF |date= |accessdate=2012-03-13}}
26. ^{{cite web|url=http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/DIBAPR.pdf |title=Official Perrigo Company Press Release |format=PDF |date= |accessdate=2012-03-13}}
27. ^{{cite web |url=http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/UNIPR.pdf |title=Archived copy |accessdate=2011-07-05 |deadurl=yes |archiveurl=https://web.archive.org/web/20110623072008/http://perrigo.com/uploadedFiles/Investors/Press_Releases/UNIPR.pdf |archivedate=23 June 2011 |df=dmy-all }}
28. ^{{cite web |url=http://www.perrigo.com/uploadedfiles/Investors/Press_Releases/ORION.pdf |title=Archived copy |accessdate=2011-07-05 |deadurl=yes |archiveurl=https://web.archive.org/web/20110715064939/http://www.perrigo.com/uploadedfiles/Investors/Press_Releases/ORION.pdf |archivedate=15 July 2011 |df=dmy-all }}
29. ^{{cite web |url=http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/PBMCLS.pdf |title=Archived copy |accessdate=2011-07-05 |deadurl=yes |archiveurl=https://web.archive.org/web/20110623064940/http://perrigo.com/uploadedFiles/Investors/Press_Releases/PBMCLS.pdf |archivedate=23 June 2011 |df=dmy-all }}
30. ^{{cite web |url=http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/110119%20Paddle%20PR%20v9%20-%20FINAL%20CHANGES.pdf |title=Archived copy |accessdate=2011-07-05 |deadurl=yes |archiveurl=https://web.archive.org/web/20110626213156/http://www.perrigo.com/uploadedFiles/Investors/Press_Releases/110119%20Paddle%20PR%20v9%20-%20FINAL%20CHANGES.pdf |archivedate=26 June 2011 |df=dmy-all }}
31. ^{{cite web|title=Perrigo Closes Acquisition Of Sergeant's Pet Care Products|url=http://perrigo.investorroom.com/2012-10-01-Perrigo-Closes-Acquisition-Of-Sergeants-Pet-Care-Products|website=Perrigo Company}}
32. ^{{cite web|title=Perrigo Company Acquires U.K.-based Rosemont Pharmaceuticals Ltd. For Approximately £180 Million Or $283 Million|url=http://perrigo.investorroom.com/2013-02-11-Perrigo-Company-Acquires-U.K.-based-Rosemont-Pharmaceuticals-Ltd.-For-Approximately-180-Million-Or-283-Million}}
33. ^{{cite web|url=https://www.handelsblatt.com/unternehmen/industrie/us-generikakonzern-perrigo-kauft-irische-pharmafirma-elan-/8563244.html|title=US-Generikakonzern: Perrigo kauft irische Pharmafirma Elan|author=Reuters|date=29 July 2013|work=handelsblatt.com}}
34. ^{{cite web|url=https://www.theguardian.com/business/2013/jul/29/us-drugmaker-perrigo-buy-elan|title=This page has been removed - News - The Guardian|work=the Guardian}}
35. ^{{cite news|url=https://www.bostonglobe.com/business/2013/07/29/perrigo-buy-elan-for-seeks-tax-savings/zefyefdUwJVDLG7ciScqtK/story.html|title=Perrigo to buy Elan, reincorporate in Ireland|author=Pogatchnik, Shawn|newspaper=Boston Globe|date=29 July 2013|accessdate=20 January 2015}}
36. ^{{cite news| url=https://www.bloomberg.com/news/2014-11-06/perrigo-to-buy-omega-pharma-of-belgium-for-4-5-billion.html | work=Bloomberg | first=David | last=Risser | title=Perrigo to Buy Omega Pharma of Belgium for $4.5 Billion | date=6 November 2014}}
37. ^{{cite news| url=http://www.standaard.be/cnt/dmf20141106_01361815 | work=De Standaard| title=Belgian newspaper De standaard reports Perrigo to Buy Omega Pharma for €3.6 Billion | date=6 November 2014}}
38. ^{{cite news |title=Perrigo Company plc Completes Acquisition Of Omega Pharma Invest N.V., Creating A Top Five Global OTC Company |url=http://www.prnewswire.com/news-releases/perrigo-company-plc-completes-acquisition-of-omega-pharma-invest-nv-creating-a-top-five-global-otc-company-300057595.html |date=30 March 2015 |accessdate=1 July 2015 |agency=PR Newswire |publisher=PR Newswire Association LLC }}
39. ^{{cite web|url=http://www.fiercepharma.com/pharma/struggling-perrigo-inks-deal-agreement-for-ga-based-distributor|title=Struggling Perrigo inks deal agreement for GA-based distributor - FiercePharma|publisher=}}
40. ^{{Cite news|url=https://www.reuters.com/article/us-perrigo-company-divestiture/perrigo-board-okays-separation-of-prescription-pharma-business-idUSKBN1KU0F9|title=Perrigo board okays separation of prescription pharma business|last=Editorial|first=Reuters|work=U.S.|access-date=2018-08-09|language=en-US}}

External links

  • {{Official|http://www.perrigo.com}}
{{Finance links
| name = Perrigo
| symbol = PRGO
| sec_cik = PRGO
| yahoo = PRGO
| google = PRGO
}}{{Pharmaceutical companies of the United States}}{{TA 25 companies}}{{authority control}}

9 : Companies listed on the New York Stock Exchange|Pharmaceutical companies of Ireland|Pharmaceutical companies of the United States|Pharmaceutical companies established in 1887|1887 establishments in Michigan|Companies formerly listed on NASDAQ|Companies listed on TASE|Generic drug manufacturers|Corporate inversions

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