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Perrigo Trims Workforce, Ships Tysabri License, Stays European Course

Executive Summary

The firm is reducing its non-production workforce by 750, a decision made after three representatives of disgruntled investor Starboard Value joined its board. Perrigo charts a course of recovery for its struggling international consumer health business, but some analysts are convinced it took a wrong turn with its 2015 investment in European OTC drug and nutritional product businesses and brands.

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A court in Dublin has considered Perirrgo's challenge to Ireland tax authorities' ’ 2018 order to pay $1.9bn additional taxes from its 2013 acquisition of Elan that established it as an Irish firm. “We're just probably within 6 months now that we should get some kind of an answer in that regard,” says CEO Murray Kessler.

Perrigo Returns To 'Model' For Success, Expects Surprises From 2020 Launches

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