Navigation Links
Sun Pharma Comments on Taro's Potential Sale of Its Irish Operations
Date:6/5/2008

MUMBAI, India, June 5 /PRNewswire-FirstCall/ -- Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) today sent a letter to the Board of Directors of Taro Pharmaceutical Industries Ltd. (Taro, Pink Sheets: TAROF) regarding Taro's comments about its Irish subsidiary, in the Company's press release dated May 28, 2008, which Sun believes indicate that Taro intends to pursue a sale of these operations.
The full text of Sun Pharma's letter to the Taro Board appears below:

June 5, 2008

Board of Directors

Taro Pharmaceutical Industries Ltd.

14 Hakitor Street

Haifa Bay 26110, Israel

Taro Pharmaceutical Industries Ltd.

Italy House, Euro Park

Yakum 60972, Israel

Dear Sirs and Madams:

We refer to the press release dated May 28, 2008 of Taro Pharmaceutical Industries Ltd. ("Taro") regarding, among other things, Taro's purported termination of the Agreement of Merger, dated as of May 18, 2007 (the "Merger Agreement"), among Taro, and our affiliates, Alkaloida Chemical Company Exclusive Group Ltd. and Aditya Acquisition Company Ltd.

In the press release Taro makes a point of mentioning the monthly costs of operations in Ireland and that while the company reached an agreement in principle after the date of the Merger Agreement to sell Taro Pharmaceuticals Ireland Limited ("Taro Ireland"), an Irish subsidiary of Taro that owns and operates the multi-purpose pharmaceutical manufacturing and research facility in Roscrea, Ireland, to a group of Irish investors, "Sun repeatedly refused to consent under the Merger Agreement to the sale of those operations." At the end of the press release, Taro goes on to add that "[a]bsent the constraints of the Merger Agreement the Company plans to pursue all options available in order to enhance shareholder value, including ... a sale of assets."

The clear intimation is that Taro intends to pursue the sale o
'/>"/>

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

Page: 1 2 3 4 5

Related medicine news :

1. Anemia and tropical diseases; Is pharmacogenomics ready for the clinic?
2. Mylan Commences Tender Offers and Consent Solicitations for Its 5.750% Senior Notes Due 2010 and 6.375% Senior Notes Due 2015 in Connection With Its Proposed Acquisition of Mercks Generic Pharmaceutical Business
3. Arena Pharmaceuticals to Present at the NewsMakers in the Biotech Industry Conference
4. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
5. The Pharma & Life Sciences Best Practice Database: an Industry Resource for Successful Techniques and Performance Benchmarks for Reaching the Top
6. Schering-Plough/Merck Pharmaceuticals Announce FDA Filing Acceptance of New Drug Application for Loratadine/Montelukast Tablet
7. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
8. National Pharmaceutical Council Announces New Strategic Focus, Search for New Leadership
9. AKELA Pharma Inc. announces positive results for the extension part of its Phase IIb Fentanyl TAIFUN(R) trial
10. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Coreg(R)
11. Innocoll Agrees the Sale of its CollaRx(R) GENTAMICIN SURGICAL IMPLANT and European Sales and Marketing Infrastructure to EUSA Pharma
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/6/2015)... quality built chicken coop condo with a wheel kit is a ... on a pasture. By installing a wheel kit on a ... tractor that stands up to being moved around the pasture every ... to flex to uneven ground without losing its shape. It ... it will help provide the chickens with fresh foraging plots each ...
(Date:5/6/2015)... 06, 2015 The Canton Group is joining ... for the 6th annual charity softball game. The event takes ... T Bank Stadium. Past years guests include Joe Flacco, John ... still on sale if you are interested in ... non-profit organizations, such as SOAR Baltimore and ...
(Date:5/6/2015)... Animals make just as good friends as ... for your health. An Ohio veterinarian has been ... seeing with health advantages of owning a pet. , “When ... to pet ownership, there are proven health benefits for people-- ... of the Animal Medical Center of Streetsboro ...
(Date:5/6/2015)... OH (PRWEB) May 06, 2015 Anitha ... at Hematology Oncology Consultants, Inc. in Columbus, OH. ... and has a special focus in breast cancer, lung cancer, ... and lymphoma as well as benign hematology. , ... and internal medicine by the American Board of Internal Medicine. ...
(Date:5/6/2015)... Anitoa Systems, (“Anitoa”), a Palo Alto ... of China, has successfully demonstrated a handheld real time ... Anitoa’s handheld qPCR is shown to be capable ... including hepatitis B, C, and E. Coli. This qPCR ... sample and over 9 orders of magnitude dynamic range. ...
Breaking Medicine News(10 mins):Health News:Chicken Coop Condo Launches the Chicken Tractor 2Health News:The Canton Group Sponsors Ravens Charity Softball Event 2Health News:The Canton Group Sponsors Ravens Charity Softball Event 3Health News:Veterinarian Supports 2015 HABRI Study Citing Increase in Health Advantages of Pet Owners 2Health News:Veterinarian Supports 2015 HABRI Study Citing Increase in Health Advantages of Pet Owners 3Health News:New Oncologist to Join Hematology Oncology Consultants, Inc. 2Health News:New Oncologist to Join Hematology Oncology Consultants, Inc. 3Health News:Anitoa Systems Demonstrates Compact qPCR using Ultra Low-Light CMOS Bio-Optical Sensor 2Health News:Anitoa Systems Demonstrates Compact qPCR using Ultra Low-Light CMOS Bio-Optical Sensor 3
... ,Beautiful Symbol, NEW YORK, Sept. 12 - Aylene ... "a homemaker." Doing,everything the old-fashioned way, Aylene Henderson-Bolds took ... line, washing and drying her dishes,by hand, and, of ... the kitchen met you at the front door and ...
... you,re one of the,millions of Texans who suffers through ... Allergy researchers at Presbyterian Hospital of,Dallas say the upcoming ... "The unusually wet weather this summer means ragweed plants ... of people," said Gary Gross, MD, an,allergist at Presbyterian ...
... is Director at BlueLine Partners, Recent Equity Investors in ... (Nasdaq: IRIX ) announced today the appointment of ... a director at BlueLine,Partners, replaces Robert K. Anderson who ... recently completed a private placement of,equity with BlueLine and ...
... a handful nationwide interlinking ... fertility care, SAN RAMON, Calif., Sept. 12 ... one of nation,s oldest IVF practices,launches "Fertile Awakenings," one ... team of traditional western fertility specialists and,complementary and alternative ...
... Patient-Focused Organization Reaches Out to Educate Chicagoans, ... inform and empower the people of Chicago, SAVE ... 25-minute live,call-in show on the Chicago Access Network ... at 6:00 PM on CAN-TV, Channel 21., ...
... deaths from heart disease, cancer and stroke fuel the trend ... in the United States are at an all-time high, with ... years, a new federal study finds. , The finding reflects ... 1955, when the average American lived to be 69.6 years ...
Cached Medicine News:Health News:Alzheimer's Foundation of America to Display Quilt to Remember in Los Angeles 2Health News:Alzheimer's Foundation of America to Display Quilt to Remember in Los Angeles 3Health News:Allergists at Presbyterian Hospital of Dallas Say This Year's Fall Allergy Season Could be Worst in Decades 2Health News:William Moore Appointed to IRIDEX Board of Directors 2Health News:William Moore Appointed to IRIDEX Board of Directors 3Health News:Bay IVF Experts Launch One of First East-West Fertility Programs of Its Kind 2Health News:Bay IVF Experts Launch One of First East-West Fertility Programs of Its Kind 3Health News:Health Knowledge Empowers the Public 2Health News:U.S. Life Expectancy Hits New High 2Health News:U.S. Life Expectancy Hits New High 3
(Date:5/6/2015)... May 06, 2015 Research and Markets ... of the "Global Insulin Patch Market Opportunity ... Highly advanced technology like ultrasound and iontophoresis are ... patches. Depending upon the type of technique, their ... reach of several patients. In long-term, it would ...
(Date:5/6/2015)... --  CEFALY Technology , the creators of the first ... use prior to the onset of migraine pain, is ... the EUROHEADPAIN - Midterm Meeting at the International Headache ... from May 14-17, 2015. On May 14 ... European research project focused on migraines, CEFALY Technology ...
(Date:5/6/2015)... SAN ANTONIO , May 6, 2015   GenSpera, ... "Injectable Cancer Compositions" has entered the national phase application process ... , Eurasia, Japan , China ... the United States . When awarded, the resulting patent ... property around its entire platform technology, including its lead drug ...
Breaking Medicine Technology:Global Insulin Patch Market Opportunity Analysis 2015 2CEFALY to Present Breakthrough Data in Migraine Treatment at International Headache Society Congress 2GenSpera Enters National Phase with Patent Application for Injectable Prodrug Formulations 2
... importance of electronic connectivity for ... understood. Transmission of patient results ... records, and billing. A sound ... connectivity is essential to ensure ...
248 is fully automated blood gas systems offering a cost-effective solution for critical care testing in settings with low to medium workloads....
... Discovery 90SE Ultracentrifuge offers ... discover more. All the ... top-of-the-line performance, powerful functionality, ... use, all built into ...
... g-force ever. But optimal productivity in the ... combines maximum force, capacity, and ease of ... apart from any other system. With advanced ... Optima takes productivity to the MAX. Optima ...
Medicine Products: