AbbVie brings 'precautionary' action over €587m Allergan takeover tax demand

As part of the deal, shares in Allergan were cancelled as a result of its share capital being reduced. File photo

Pharmaceutical giant AbbVie has brought a “precautionary” High Court action against the Revenue arising from a €587 million tax bill served on it after it acquired Allergan.

The €587m was reduced to zero liability on appeal to a Tax Appeals Commissioner (TAC).