Dublin-domiciled Horizon Pharma has tabled a hostile bid — valued at $3bn (€2.74bn) — for US-based speciality pharmaceutical company Depomed.

Pharmaceutical company Horizon is set to create 60 highly skilled positions in Dublin over the next three years.

60 new jobs are on the way to Dublin over the next three years.

Medtronic, the Minnesota- based medical device maker that’s planning to take an Irish tax address, may become one of the biggest losers under rules announced today by the Obama administration.

Horizon Pharma is to become the latest US drug firm to switch its corporate base to Ireland to take advantage of the country’s low corporate tax rates.