Pfizer mega plan puts focus back on Irish tax

Ireland’s tax regime may again face the international spotlight, at an uncomfortable time for the country, after two of the world’s pharmaceutical giants yesterday confirmed they are in talks over a mega billion dollar merger that appears to be driven by Irish tax considerations.

Botox-maker Allergan and Pfizer said they were in preliminary talks on a potential merger, a deal that would create the world’s largest drug maker.

A purchase of Allergan, which is registered in Ireland for tax purposes, with a market value of more than $113bn €102.4bn), would be the biggest in Pfizer’s long history of huge deals. It is worth almost $219bn.