Perrigo Faces $370m Tax Payment From Second IRS Audit Linked To Elan Deal

Even though consumer health products and Rx generics manufacturer reported $92.2m net Q3 income after losing $67.5m a year ago, investors apparently reacted more strongly to its latest tax dispute. Its share price closed down 6.7% at $50.51 on trading at twice the stock's average volume.

WASHINGTON, DC - DECEMBER 26: Sign outside the Internal Revenue Service building in downtown Washington, DC on December 26, 2014.

Perrigo Co. PLC's review of its latest quarter included a first, that its results met its chief executive's expectations, but also revisited a problem it announced earlier this year, assessments against the firm increasing its tax debt.

Even though the consumer health products and Rx generics manufacturer's reported $92.2m net income for the third quarter after reporting...

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