Perrigo offices searched by feds in drug pricing investigation

Posted at 5:00 PM, May 04, 2017
and last updated 2017-05-04 17:00:31-04

DUBLIN, Ireland – The Perrigo Company, with its North American headquarters in Allegan, announced earlier this week that U.S. Federal authorities executed search warrants at their corporate offices.

The company made the announcement through a press statement on PRNewswire on Tuesday. It is not known which offices were searched.

According to the company, the U.S. Department of Justice Antitrust Division is investigating drug pricing in the pharmaceutical industry and is looking at a number of companies.

The company says they are cooperating with authorities.

Yahoo! Finance reports that the share prices of Perrigo were down 5% Wednesday after the news.

In 2013, Perrigo, which was based in Allegan, Michigan, bought a drug company in Dublin, Ireland and moved global headquarters to Ireland for lower tax rates.  The company’s North American headquarters remain in Allegan.