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

's management concluded that such a sale would be in the best interests of Taro and all its shareholders.

4. Entrenchment by the Levitt Family. As we see it, you are proposing to sell Taro Ireland, after investing $50 million in it, and at the very point when it is on the cusp of generating potentially substantial revenue, to a party closely related to senior management, and for a price less than the value of the land on which the facilities stand (part of which price comprises risky contingent future payments). It is no surprise then, that Taro is unable to demonstrate having undertaken a robust sale process. The only rational reason we can imagine for a sale so economically and strategically unfavorable to Taro and its shareholders is that it forms part of your concerted effort to discourage Sun from exercising its right to acquire Taro. This is yet another example of your flagrant breach of fiduciary duty and continued entrenchment by the Levitt family.

I would remind you and the Taro Board that the improper termination of the Merger Agreement does not give Taro the right to sell Taro Ireland without our consent. Any action of this nature will force Sun to hold each of Taro's Directors personally accountable. Any potential buyer would also be entering into such a transaction at its own risk, and Sun reserves all its rights against Taro, its Directors, and any potential buyer.

Very truly yours,

Dilip Shanghvi

Chairman and Managing Director

cc:

Tal Levitt

Jacob Levitt, M.D.

Daniel Moros, M.D.

Gad Keren

Micha Friedman

Heather Douglas

Eric Johnston

Myron Strober

Haim Fainaro

Ben Ziod Hod

About Sun Pharmaceutical Industries Ltd.

Established in 1983, listed since 1994 and headquartere
'/>"/>

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:8/21/2014)... August 21, 2014 SoundConnect ... been recognized as one of the nation’s Fastest ... magazine for the 2nd consecutive year. Inc. magazine ... annual Inc. 500|5000, an exclusive ranking of the ... most comprehensive look at the most important segment ...
(Date:8/20/2014)... inventions licensed to biotechnology firms has revealed early ... these roadblocks, the researchers suggest that better communication ... could lead to faster commercialization down the road. ... made in university laboratories and licensed to biotechnology ... which have a high failure rate. But a ...
(Date:8/20/2014)... , Aug. 20, 2014 Neurotrope, ... host a conference call to provide an update ... p.m. Eastern daylight timeDial-in numbers:(888) 505-4369 (U.S. and ... Live web cast: www.neurotropebioscience.com , under "Investor Relations"The ... after completion through September 2, 2014 at (888) ...
(Date:8/20/2014)... , Aug. 20, 2014  PAREXEL International Corporation (NASDAQ: ... be presenting at the Baird Healthcare Conference in New ... Chief Financial Officer, will be making a presentation on ... on Wednesday, Sept. 3, 2014. A live ... "Investors" section of PAREXEL,s website at www.PAREXEL.com ...
Breaking Biology Technology:SoundConnect Returns on Inc. 5000 List of Fastest Growing Companies 2SoundConnect Returns on Inc. 5000 List of Fastest Growing Companies 3Early bottlenecks in developing biopharmaceutical products delay commercialization 2Early bottlenecks in developing biopharmaceutical products delay commercialization 3Neurotrope To Host Conference Call 2PAREXEL International To Present At Baird Healthcare Conference 2
... work 25 hours a day. So several speakers at the ... drive home the point that "work smarter, not harder" is ... of the University of Wisconsin-Madison School of Business, summed it ... Knetter said. To him, producing more by working more hours ...
... the possibility - make that probability - of data breaches are ... the CEO's top technologist doesn't mind consulting with the legal team, ... the message of attorney Erik Phelps, a partner in the law ... 2007 gathering that since e-mail is now discoverable in court, and ...
... sort - from the globally familiar to the local ... and venerated with a speed never seen before. The ... for brand commentary, both positive and negative, and these ... political brand managers. They now must proactively protect brand ...
Cached Biology Technology:Fusion 2007: Innovation drives productivity in post 24x7 world 2Fusion 2007: In e-legalities, CIOs and lawyers combine to provide business value 2Fusion 2007: In e-legalities, CIOs and lawyers combine to provide business value 3Brand protection in the age of customer engagement 2Brand protection in the age of customer engagement 3Brand protection in the age of customer engagement 4Brand protection in the age of customer engagement 5Brand protection in the age of customer engagement 6
(Date:8/20/2014)... 2014  The second annual Biometrics UnPlugged Executive ... Tampa, Florida on September 15, 2014, ... Technology and Strategy at Samsung, and Philippe de ... of this year,s event is Mobility at the ... "Biometrics UnPlugged: Mobility at the Crossroads of Commerce ...
(Date:8/19/2014)... . Wind ... large amount of electricity is to be produced with renewable ... be stored during productive periods so that these fluctuations can ... adequate for the purpose. Science and industry are therefore working ... systems that used to be too expensive or unsophisticated to ...
(Date:8/19/2014)... purchased at retail seafood counters in 10 different ... expose consumers to unexpectedly high levels of mercury, ... present a fish of the same species, but ... mislabeling offense, according to new research by University ... of seafood is essential to allow consumers to ...
Breaking Biology News(10 mins):Biometrics UnPlugged: Mobility at the Crossroads of Commerce & Privacy to Feature Interactive Sessions with Samsung and Experian 2Asian inventions dominate energy storage systems 2Asian inventions dominate energy storage systems 3Seafood substitutions can expose consumers to unexpectedly high mercury 2Seafood substitutions can expose consumers to unexpectedly high mercury 3
... Infection control experts at The Johns Hopkins Hospital have ... a bleaching agent into the air and then detoxify ... preventing the spread of multiple-drug-resistant bacteria, or so-called hospital ... hydrogen peroxide vaporizers -- first deployed in several Singapore ...
... West China, Myanmar and Northern Vietnam contain one of the ... area are thousands of caves and gorges. It is only ... plants. This exploration is yielding many new species new to ... study was published in the open access journal ...
... Geosphere articles include additions to several special issues ... Change Offshore New Jersey"; "The ANDRILL McMurdo Ice Shelf (MIS) ... Sea and Beyond: Contributions to Marine Geology in Honor of ... the Colorado River System II." Topics include, 1. ...
Cached Biology News:Hydrogen peroxide vapor enhances hospital disinfection of superbugs 2Hydrogen peroxide vapor enhances hospital disinfection of superbugs 3Hydrogen peroxide vapor enhances hospital disinfection of superbugs 4Cave dwelling nettle discovered in China 2Geosphere covers Grand Canyon, deep drill coring, Death Valley, and more 2Geosphere covers Grand Canyon, deep drill coring, Death Valley, and more 3Geosphere covers Grand Canyon, deep drill coring, Death Valley, and more 4Geosphere covers Grand Canyon, deep drill coring, Death Valley, and more 5Geosphere covers Grand Canyon, deep drill coring, Death Valley, and more 6Geosphere covers Grand Canyon, deep drill coring, Death Valley, and more 7Geosphere covers Grand Canyon, deep drill coring, Death Valley, and more 8
Assay Diluent, 10 L...
Assay Diluent Trial Pack, 4 x 100 mL...
HRP Monoclonal-Goat Diluent - 5X Concentrate, 25 mL...
SpectroQuest single beam 1.8nm UV/Vis spectrophotometer; stand-alone unit...
Biology Products: