Pharma firm has €7.55bn after wind-up
Published 21/07/2015 | 02:30
A CORK-BASED subsidiary of pharma giant Johnson & Johnson is to cash in on its €7.55bn investments.
This follows the firm, Janssen Pharmaceutical Holdings, going into voluntary liquidation as part of a corporate reorganisation. The US-owned firm was only established in 2012 and never filed annual accounts as it has unlimited status.
However, the document lodged with the CRO confirming the liquidation show that the firm will have a surplus of €7.55bn after the costs of the liquidation are paid off.
In 2014, Johnson & Johnson recorded worldwide sales of $74.3bn and pre-tax profits of $20.56m.