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IRS Has Wrong Prescription for Perrigo

Rob Lenihan

tumbled 7.3% to $47.67 Tuesday after the pharmaceutical company said it had received an $843 million bill from the Internal Revenue Service. The Dublin-based company said in a filing that it had gotten a revised Notice of Proposed Adjustment from the IRS examination team auditing Athena Neurosciences Inc. for the years ended Dec. 31, 2011 - 2013. Athena was acquired as a U.S. subsidiary by Elan Corp. in 1996 and Perrigo acquired Elan through a December 2013 business combination between Perrigo's predecessor and Elan.