Perrigo Drug's Pricing Way Off, Expert Says In $163M Tax Trial

Law360 (June 7, 2021, 7:55 PM EDT) -- The $466 million an Israeli subsidiary of Irish drugmaker Perrigo Co. earned from sales of a heartburn medication "in no way can possibly comply" with transfer pricing law, an economist said Monday during the company's $163 million tax trial.

Drugmaker Perrigo is in a battle with the government over taxes on income earned by the company's Israeli subsidiary through sales of over-the-counter heartburn drug omeprazole. (AP Photo/James Prichard) Whether the drug's price was inflated was the crux of expert witness testimony on the last day of L. Perrigo Co.'s trial in Michigan federal court, which lasted nearly two weeks. The U.S. government has claimed that the subsidiary, Perrigo...

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