Hikma may follow Shire away from UK
Hikma Pharmaceuticals, a Jordanian drugmaker listed in London, has joined the ranks of UK drugmakers that have threatened to leave the country for Ireland in the face of ever-increasing taxes.
The UK government is planning to introduce taxation on profits earned by firms' foreign subsidies as part of a crack down on companies avoiding paying corporation tax, a move Hikma chief executive, Said Darwazah labeled as "crazy" in an interview with the UK Financial Times. UK firm Shire Pharmaceuticals moved its corporate base across to Ireland last month (Marketletter April 21).
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