Navigation Links
Sun Pharmaceutical Sends Second Letter to Taro Pharmaceutical Regarding Taro's Irish Subsidiary
Date:6/24/2008

tensible reason for the sale, which, as your letter to Taro's shareholders claims, is meant to enhance Taro's cash resources.

To date, Taro has neither been able to reconcile the valuation used in the proposed sale nor provide evidence that this is the best offer available.

3. No Transparent Sale Process. We find it telling that, in conjunction with the unfavorable terms of the proposed sale, Taro has failed to demonstrate a thorough and transparent sale process, including:

(i) No disclosure as to process. Taro has not explained what steps it has taken to ensure the best possible offer for Taro Ireland. To our knowledge, there was no public solicitation of bids. How has Taro publicized the sale? How many offers have been received? Has Taro retained financial or other advisors to assist in presenting Taro Ireland in the best possible light, and to evaluate any offers received?

In fact, on June 15, after we highlighted the failings of the proposed sale, you hastily invited Sun to submit a bid by June 23. While we see no reason to bid on an asset in which we hold a significant stake, this invitation -- seemingly an afterthought -- only exacerbates our concern that there is indeed no systematic process in place to ensure the best possible terms of sale.

(ii) Identity of proposed buyer. In addition to the undervaluation and risky form of consideration being proposed, we understand that one of the potential buyers has a close relationship with Taro's senior management. As communicated to you in the past, we have serious doubts as to the arm's length nature of the proposed transaction. Given the concerns we raised previously, this close relationship should, if anything, have prompted Taro to implement an unimpeachable sale process -- which Taro has resoundingly failed to demonstrate.

We are sure that we speak for all shareholders unaffiliated with the management in our quest to obtain full disclosure as to the process by which Taro
'/>"/>

SOURCE Sun Pharmaceutical Industries Ltd.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7

Related biology technology :

1. Keryx Biopharmaceuticals to Present at the Jefferies & Co. Healthcare Conference
2. Portola Pharmaceuticals Names William Lis Vice President of Business Development and Commercial Operations
3. Stason Pharmaceuticals, Inc. Appoints Diana Wood as Vice President, Business Development
4. In Pain Market, Huge Unmet Needs, Tough Regulatory Environment Challenge Pharmaceutical Companies, According to MedPredict
5. Brian Levy, OD, MSc, Named Chief Operating Officer of Danube Pharmaceuticals
6. Raptor Pharmaceuticals Corp. Announces Presentation at 5th International Cystinosis Conference 2008
7. Onyx Pharmaceuticals to Present at Jefferies 2nd Annual Healthcare Conference
8. Sunesis Pharmaceuticals to Present at the Jefferies 2nd Annual Healthcare Conference
9. Immtech Pharmaceuticals and Beijing Capital Medical University Announce Joint Venture to Provide Contract Research Services in China
10. Synovics Pharmaceuticals Announces Continued Growth of Customer Relationships
11. GANIC Pharmaceuticals Launched with Premier Pharmaceutical Industry Executives
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/17/2014)... September 17, 2014 ... action from a truly novel class of ... MGB Biopharma, a biopharmaceutical company developing a ... that it has secured £4.0m ($6.4m) to ... MGB-BP-3, against a range of Gram-positive infections ...
(Date:9/17/2014)... The Alliance for Clinical Research ... collaborative building a global system to enhance safety, ... Phase 3 of its Site Accreditation and Standards ... Kalali, Vice-President, Global Head, Neuroscience Center of Excellence ... Quality Integration (CQI) Consulting will lead the effort ...
(Date:9/16/2014)... chin strap that can harvest energy from jaw movements ... Canada. , It is hoped that the device can ... a number of small-scale implantable or wearable electronic devices, ... and communication devices. , The first results of the ... IOP Publishing,s journal Smart Materials and Structures . ...
(Date:9/16/2014)... cars and flashlights, batteries play an important role ... are seeking ways to improve battery life and ... water-based solution, researchers at the University of Missouri ... battery that could be used for many applications ... and also in complicated applications such as space ...
Breaking Biology Technology:MGB Biopharma Secures £4.0m ($6.4m) to Advance its Novel Lead Antibacterial, MGB-BP-3, into Clinical Development 2MGB Biopharma Secures £4.0m ($6.4m) to Advance its Novel Lead Antibacterial, MGB-BP-3, into Clinical Development 3MGB Biopharma Secures £4.0m ($6.4m) to Advance its Novel Lead Antibacterial, MGB-BP-3, into Clinical Development 4MGB Biopharma Secures £4.0m ($6.4m) to Advance its Novel Lead Antibacterial, MGB-BP-3, into Clinical Development 5MGB Biopharma Secures £4.0m ($6.4m) to Advance its Novel Lead Antibacterial, MGB-BP-3, into Clinical Development 6MGB Biopharma Secures £4.0m ($6.4m) to Advance its Novel Lead Antibacterial, MGB-BP-3, into Clinical Development 7Global Standards Initiative for Clinical Research Sites Advances 2Global Standards Initiative for Clinical Research Sites Advances 3Global Standards Initiative for Clinical Research Sites Advances 4'Smart material' chin strap harvests energy from chewing 2
... 25 Scimitar Equity, LLC issues a ... VOQP), entitled,"Creating Value; Turnaround Leverages Product Opportunities ... review is available at website: http://www.scimitarequity.com ... Jersey-based biotechnology company,dedicated to becoming a recognized ...
... 25 Mymetics,Corporation (OTC: MYMX), will be holding an ... PM New York Time to update all shareholders,on the ... Form 10-Q and to,address recent press articles., You ... at +1-866-591-4361 PIN 815,726 and from Europe at +41-800-329-326 ...
... 23 Eisai Corporation of,North America and its ... Food and Drug Administration (FDA) has approved a ... prevention of,chemotherapy-induced nausea and vomiting (CINV). ALOXI Capsules ... prevention of acute nausea and,vomiting following initial and ...
Cached Biology Technology:VioQuest Pharmaceuticals, Inc Q2/08 Review Issued by Scimitar Equity, LLC 2FDA Approves ALOXI(R) (Palonosetron HCl) Capsules for Prevention of Acute Chemotherapy-induced Nausea and Vomiting 2FDA Approves ALOXI(R) (Palonosetron HCl) Capsules for Prevention of Acute Chemotherapy-induced Nausea and Vomiting 3
(Date:9/16/2014)... The 36 Pit Fire began on September 13, 2014. ... It is currently over 2,300 acres in size and ... The 36 Pit Fire was calm Monday night due to ... establishing an anchor point and beginning to construct a fireline ... The following resources are working on the fire: , 7 ...
(Date:9/16/2014)... same viruses that make us sick can take up ... a sneeze, cough or other troublesome symptom, according to ... St. Louis. , On average, healthy individuals carry ... researchers report online in BioMed Central Biology . ... the diversity of viruses in healthy people. , ...
(Date:9/16/2014)... for the dinosaurs 66 million years ago decimated the ... extent than their deciduous peers, according to a study ... the journal PLOS Biology . , Applying ... fossilized leaves of angiosperms flowering plants excluding ... ecology of a diverse plant community thriving during a ...
Breaking Biology News(10 mins):Healthy humans make nice homes for viruses 2Healthy humans make nice homes for viruses 3Meteorite that doomed dinosaurs remade forests 2Meteorite that doomed dinosaurs remade forests 3Meteorite that doomed dinosaurs remade forests 4
... percent as compared to last year,s record size. According to measurements ... 27.7 million tonnes, compared to the 2006 record ozone loss of ... area and the depth of the ozone hole. The area of ... 220 Dobson Units is 24.7 million sq km, roughly the ...
... vaccine delivered through painless microneedles in patches applied ... to delivery through hypodermic needles, according to researchers ... Technology. Using new grants from the National Institutes ... five years, researchers from the two institutions plan ...
... help may be on the way for beleaguered growers ... Many varieties of the widely grown bottlegourd (Lagenaria siceraria) ... (ZYMV), a scourge of commercial cucurbits that includes pumpkins, ... ZYMV infects cucurbits throughout North America and in other ...
Cached Biology News:2007 ozone hole 'smaller than usual' 22007 ozone hole 'smaller than usual' 3Flu vaccine in painless skin patches under development at Emory, Georgia Tech with NIH grants 2Battling virus disease of watermelon with bottlegourds 2
HOXC11 Antibody...
HOXC11 Antibody...
PPOX Immunogen: PPOX (AAH02357, 378 a.a. ~ 478 a.a) partial recombinant protein with GST tag. Storage: -20 C, Avoid Freeze/Thaw Cycles *Available for distribution in the US only...
Rabbit anti MMP-13, Hinge Region MMP-13 Hinge Region...
Biology Products: