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:7/10/2014)... In his latest blog post at ... facility CEO Per Wickstrom has listed 5 ways to ... confirm an appointment, get information or sometimes even just ... being annoying is a skill that most people don’t ... to keep the dialogue moving without coming across as ...
(Date:7/10/2014)... (PRWEB) July 10, 2014 A ... program that gets clients off to a great start ... can believe in, has launched a new Eating Disorders ... The new section highlights:, , Different ... Statistic Manual of Mental Disorders (DSM-IV), including anorexia nervosa, ...
(Date:7/10/2014)... City, CA (PRWEB) July 10, 2014 ... announced the latest results of the 4th “Trending ... "Source-to-Pay” suite model. , Every day multinational ... data, contracts, expense forms etc. To meet this ... "Source-to-Pay" (S2P) suites which can be defined as ...
(Date:7/10/2014)... widespread across the United States, due in large to ... of clinical data that will become available for research ... experts in healthcare have become increasingly focused on clinical ... purpose of gleaning insights that have the potential to ... that is known as big data. ...
(Date:7/10/2014)... professional football players who have shoulder stabilization surgery are ... finds. Shoulder instability is a common injury among ... to fix the problem has been unclear, the study ... who had shoulder stabilization surgery. Ninety percent of those ... as playing in at least one regular season game. ...
Breaking Medicine News(10 mins):Health News:Per Wickstrom’s Latest Blog Post Lists 5 Ways to Follow-up Without Being Annoying 2Health News:Latest A Forever Recovery Launches Eating Disorders Section on Website 2Health News:‘Source-to-Pay’ e-Procurement Is Real Performance Driver for Purchasing Departments 2Health News:‘Source-to-Pay’ e-Procurement Is Real Performance Driver for Purchasing Departments 3Health News:Six cases where big data can reduce healthcare costs 2Health News:Six cases where big data can reduce healthcare costs 3Health News:Six cases where big data can reduce healthcare costs 4Health News:Shoulder Surgery Gets NFL Players Back in the Game 2
... came to the Brampton, Ont., Tim Horton's location are being ... ,According to health officials in Peel Region, an employee ... tested positive for hepatitis A. ,Peel's associate medical ... that the risk of transmission is low. ,However De Villa ...
... Egger, of the University of Bern in Switzerland, AIDS ... side effects// due the drug. ,There is ... It been ten years since the antiretroviral (ARVs) have ... and drawbacks. Scientists say that the combinations of drugs ...
... fibers could stretch to three times its length before going ... to six times// their original length before breaking. ... from a soluble protein, fibrinogen. When an injury occurs ... a mesh, which dries and hardens, so that bleeding stops. ...
... been a storm brewing over a particular brand of milk, ... on the warfarin drug. Fonterra, the company// that is manufacturing ... were well aware of the impending risks of the milk ... to disclose the warning on the product. ...
... who was denied admission to a medical college here because ... disability, has urged President// A.P.J. Abdul Kalam to intervene. ... of the state joint entrance examination, was denied admission to ... examining her again despite the chief district medical officer R.C. ...
... popular supermarket chains have announced that they would completely avoid ... ,Trans fat was recently in the news as it increased ... thought to cause cancers among some people. The supermarket chains ... amounts of hydrogenated oil pose great threat and affected the ...
Cached Medicine News:
(Date:7/10/2014)... --  Ventana Medical Systems, Inc.  (Ventana), a member of ... an agreement with Merck KGaA, Darmstadt, Germany ... the United States and ... division on the development and commercialization of a companion ... diagnostic assays. In alignment with Merck KGaA,s strategic approach ...
(Date:1/15/2014)... , Jan. 15, 2014 Sono-Tek Corporation (OTC BB: SOTK) ... November 30, 2013, compared to sales of $2,202,000 for the ... again, this quarter has also shown growth over the preceding ... quarter of this fiscal year. Markets that experienced sales increases ...
(Date:1/15/2014)... today announced it has established a relief fund ... that has gripped much of the nation. AARP and its ... support these emergency relief efforts AARP and AARP Foundation will ... to $500,000 in aid. The matching program will be administered ...
Breaking Medicine Technology:Ventana Medical Systems, Inc. and Merck KGaA, Darmstadt, Germany to develop companion diagnostic test for cancer treatment 2Ventana Medical Systems, Inc. and Merck KGaA, Darmstadt, Germany to develop companion diagnostic test for cancer treatment 3Sono-Tek Announces Third Quarter Results 2Sono-Tek Announces Third Quarter Results 3Sono-Tek Announces Third Quarter Results 4AARP Foundation Establishes Winter Relief Fund for Older Adults Suffering from the Severe Cold Weather 2AARP Foundation Establishes Winter Relief Fund for Older Adults Suffering from the Severe Cold Weather 3
... Anadys Pharmaceuticals, Inc. (Nasdaq: ANDS ) today announced ... its strategic advisor as it pursues various avenues aimed at ... ANA598, in development for the treatment of hepatitis C.  Anadys ... conclusion of 12 weeks of dosing ANA598 in combination with ...
... Inc. (OTC Bulletin Board: HEWA), a leading retail mail-order ... (VIPPS(CM)) accreditation from The National Association of Boards of Pharmacy (NABP). ... accredited in the United States .   , ... According to NABP which has ...
Cached Medicine Technology:Anadys Retains Lazard as Strategic Advisor 2Anadys Retains Lazard as Strategic Advisor 3Anadys Retains Lazard as Strategic Advisor 4Anadys Retains Lazard as Strategic Advisor 5HealthWarehouse.com Receives VIPPS Accreditation From The National Association of Boards of Pharmacy 2
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
... ARUP Laboratories is a national reference ... laboratory research and development. ARUP offers an ... unique medical tests in clinical and anatomic ... ARUP Laboratories' clients include more than half ...
... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
Medicine Products: