{"title":"Salix Joins the Tax Inversion Wave by Agreeing to Merge with Cosmo Pharmaceuticals’ Irish Unit","authors":"Heather Cartwright","doi":"10.3833/pdr.v2014i8.2054","DOIUrl":null,"url":null,"abstract":"Continuing the tax inversion trend among US-based companies in the life sciences sector, Salix Pharmaceuticals has agreed to buy the Ireland-domiciled subsidiary of Italian speciality pharmaceutical company Cosmo Pharmaceuticals in an all-stock deal valued at approximately US$2.7 B. The deal will lower Salix’s effective long-term tax rate from the high 30% range at present to the low 20% range and will give the company ownership of Cosmo’s US patents for three gastrointestinal products, including Uceris® (budesonide) for ulcerative colitis.","PeriodicalId":19951,"journal":{"name":"Pharmadeals Review","volume":"25 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2014-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Pharmadeals Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3833/pdr.v2014i8.2054","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
Continuing the tax inversion trend among US-based companies in the life sciences sector, Salix Pharmaceuticals has agreed to buy the Ireland-domiciled subsidiary of Italian speciality pharmaceutical company Cosmo Pharmaceuticals in an all-stock deal valued at approximately US$2.7 B. The deal will lower Salix’s effective long-term tax rate from the high 30% range at present to the low 20% range and will give the company ownership of Cosmo’s US patents for three gastrointestinal products, including Uceris® (budesonide) for ulcerative colitis.
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