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Perrigo shareholders approve move to Ireland

Perrigo is he world's largest manufacturer of OTC pharmaceutical products for the store brand market.
Perrigo is he world's largest manufacturer of OTC pharmaceutical products for the store brand market.

ALLEGAN (WKZO) -- The global headquarters of Perrigo are set to move from Allegan to Ireland pending the approval of an Irish court.

Shareholders of the generic drug maker approved the merger Tuesday with Elan Pharmaceuticals.  According to Perrigo CEO Joe Papa, having the headquarters overseas won't change much in West Michigan, as most top executives will remain in Allegan.

A major reason for the move was to take advantage of the Irish corporate tax rate, which is about half of what Perrigo pays in the U.S.

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