Perrigo resolves $843M IRS tax dispute; no payment required

PERRIGO Co plc

IRS fully withdraws proposed $843M in tax adjustments and penalties for Athena's 2011-2013 tax years.
US Competent Authority closes case; Perrigo owes nothing on the Tysabri royalty transfer pricing issue.
Perrigo to release previously established reserves in Q2 FY2023, boosting earnings.
Resolution ends multi-year MAP process under U.S.-Ireland tax treaty.
Company says any prior uncertainty on Tysabri royalty tax treatment is now completely resolved.

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