Norbrook Laboratories gets €8.5m pay-out over CEO’s death

Newry-based veterinary pharmaceutical group, Norbrook Laboratories received an insurance pay-out of £6.12m (€8.55m) arising from the death of its founder and CEO, the late Co Louth native, Edward Haughey.

The former Seanad Éireann member and chairman of the group, Lord Ballyedmond died in March of last year in a helicopter crash in thick fog in Norfolk along with three others. At the time of the crash, Lord Ballyedmond (70) was the North’s richest man with his personal wealth estimated to be around £650m.

Now, new accounts filed by Norbrook Holdings Ltd to Companies House in the UK disclose that the group received the exceptional gain of £6.12m through its ‘keyman insurance policy’.