As part of a European-wide deal, McKesson Corporation announced last year it would be selling off its Irish arm to Phoenix, the German pharma group controlled by the billionaire Merckle family and the second-largest pharmaceutical distributor in Europe.  McKesson Corporation, meanwhile, is publicly traded on the New York Stock Exchange and is one of the largest distributors of pharmaceuticals in the US.  After spending big to enter the European Market in 2014 by buying Celesio for $8.3 billion, the news of its apparent retrenchment from Europe came last July. The Phoenix deal is subject to competition authority approvals and, although…

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