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Perrigo purchases Irish drug firm

ALLEGAN (WKZO) -- Allegan based Perrigo has bought an Irish drug firm, but says that the move will not have much effect on current employees. The generic drug maker's purchase of Dublin-based Elan for eight point six billion dollars would make it possible for the company to relocate and only pay Ireland's 12 point five percent corporate income tax. The New York Times reports that Perrigo intends to reincorporate the newly combined companies with a headquarters in Ireland for that purpose, but the company itself has issued a statement, saying the move will have "very little impact to our employees." It adds that Perrigo will continue to maintain offices in many countries, and the Ireland acquisition will just be another one of them.