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

f its Irish operations now that it purports to have unilaterally terminated the protections afforded to us under the Merger Agreement. As you know, we had several reasons for withholding our consent to the sale of the Irish operations, including, without limitation: (1) concerns regarding the sale process and the fact that the agreement in principle Taro reached with the Irish buyers significantly undervalued the Irish operations, (2) the Irish operations presented Sun with considerable strategic and synergistic value as part of its merger with Taro; and (3) the facility has the potential to produce substantial revenues for Taro in the future and any sale now is premature. Given the number of injectable products which have been approved, or are in process for approval, by the Irish authorities, and the access this provides to Europe, we believe that the Irish facility is of strategic importance to Taro.

Our understanding is that to date Taro's Irish operations have been loss making since the time the Roscrea facility was acquired in March 2003. While Taro's Form 20-F filed in March 2007 listed several measures being pursued by management for liquidity improvement, the Irish operations were not cited as a drain on Taro's liquidity, nor was the sale of the Irish facility listed as a remedial option. In fact, at no point in time during the financial crisis that precipitated the entry of the Merger Agreement, did Taro identify the disposal of the Irish facility as a measure to ease liquidity despite the monthly operating costs related to those operations. Nothing prevented you from pursuing this option prior to May 2007 during Taro's most dire liquidity period.

We believe that it is only appropriate for Taro to educate all shareholders as to the process followed by Taro in soliciting and shortlisting the currently identified buyer for the Ireland facilities. We have several legitimate concerns with regard to this process and the real motives of Taro's Boar
'/>"/>

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:7/28/2014)... According to the Heartburn No More PDF review recently ... help people get rid of acid reflux naturally. ... heartburn and acid reflux. In addition, inside this book, people ... factors for reflux disease. , Vkool informs in its ... symptoms of reflux disease naturally without medications. The book also ...
(Date:7/28/2014)... Mitul R. Patel, DDS and concerned leading Dentists ... Experts Benefit Dinner May 30, in St. Petersburg, FL. ... raise funds for the Improving Youth Literacy Campaign in ... Programs across America. The funds raised are providing hundreds ... books to directly tackle illiteracy and help to break ...
(Date:7/28/2014)... Station, TX (PRWEB) July 28, 2014 Dr. ... book entitled “DOC X MD Funny Feelings.” The new book, ... common Funny Feelings in a unique story telling style with ... informative, inspirational, and motivational. The reader will find answers to ... Why does running water make people pee? Why do mosquitoes ...
(Date:7/27/2014)... Zensah®, the leader in compression technology and sports medicine, ... support . The wrist support features an adjustable velcro strap ... Medial Epicondylitis, more commonly referred to as tennis elbow and ... of the tendons attached to the outside of the elbow. ... that work the wrist and fingers turn into a tendon ...
(Date:7/27/2014)... Detroit, MI (PRWEB) July 27, 2014 ... the public with organic ways to achieve a younger ... eye cream buyer's guide to help men and women ... . , The details that are presented in the ... range of price information for consumers. On drawback to ...
Breaking Medicine News(10 mins):Health News:Heartburn No More Pdf Review Exposes Jeff Martin's Guide For Treating Heartburn – Vkool.com 2Health News:Heartburn No More Pdf Review Exposes Jeff Martin's Guide For Treating Heartburn – Vkool.com 3Health News:Mitul R. Patel, DDS Successfully Attacks a Major Source of Economic Destruction in the Battle Against Illiteracy and Poverty 2Health News:Mitul R. Patel, DDS Successfully Attacks a Major Source of Economic Destruction in the Battle Against Illiteracy and Poverty 3Health News:New Book by Alan P. Xenakis, MD Reveals Mind and Body Mysteries 2Health News:Zensah® Releases New Wrist Support 2Health News:Natural Eye Cream Buyer's Guide Published Online at Consumer News Website 2
... virus type 2 (AAV2) can kill cancer cells of cervical, ... laboratory conditions. ,Penn State College of Medicine researchers who ... types of cancer cells and yet is not known to ... adeno-associated virus type 2 resides harmlessly in the human body ...
... a baby girl develops in a womb may adversely affect// ... Michael Davies, senior researcher at the Research Center of Reproductive ... Dr Davies and his team studied a group of young ... contact the mothers from maternity hospital records and then interview ...
... more common as women are opting for a career growth path// ... thirties, late thirties or even to forties. Late pregnancy brings with ... and child. ,A Danish study says added to the ... can also become risk factors that can reduce their chances of ...
... may interfere with the results seen, says a study// done ... or computed tomography (CT) scan is done as a procedure ... of treatment on an already diagnosed malignant growth. In this ... that can be traced with the help of the tomography ...
... a major breakthrough the British scientists have reportedly succeeded ... Professor Harry Moore from the Center for Stem Cell ... might ultimately be possible to produce sperm and eggs ... now be possible to help couples with infertility. This ...
... can increase your chance of having colorectal cancer//, said ... Cancer Institute. ,Colon and rectum together form the ... also called colorectal cancer. Cancer of the colorectal happens ... within the lining of colon or rectum. ,The ...
Cached Medicine News:Health News:Developmental Origins of Polycystic Ovarian Syndrome 2
(Date:7/25/2014)... , July 25, 2014 Leading ... is returning for the seventh year to São Paulo, ... 7 th August 2014. The event will co-locate with ... most comprehensive meeting point for the pharmaceutical industry. ... top 25 countries for pharmaceutical sales are now exploring the ...
(Date:7/25/2014)... -- Dr. Michael Gabriel of a prominent ... recent study, which shows how grief in pregnancy may cause ... According to US News , "Unborn ... than others to grow up overweight or obese, even if ... two specific types of stress that caused obesity: "Children whose ...
(Date:7/24/2014)... , July 24, 2014  PTC Therapeutics, Inc. (NASDAQ: ... will host a webcast conference call to report its ... on the company,s business and outlook on Thursday, August ... of the market. The call can ... 935-8152 (international) five minutes prior to the start of ...
Breaking Medicine Technology:CPhI South America 2014 Launches with Generics Showing Huge Growth 2CPhI South America 2014 Launches with Generics Showing Huge Growth 3CPhI South America 2014 Launches with Generics Showing Huge Growth 4Dr. Michael Gabriel of GPM Pediatrics, a Noted Staten Island Pediatrics Clinic, Comments on Study, Which Names Grief as a Cause of Obesity in Children 2
... CORPAK MedSystems, Inc., a leading developer, manufacturer, ... and bedside-technology markets, today announced the appointment of Jeffrey ... Mr. Blair brings 40 years of healthcare ... the chairman and chief executive officer of North American ...
... 2011 PrimeraDx today announced the launch of the ... market used for simultaneous detection and quantification of disparate ... “We are excited to have launched the ... President and CEO Matthew McManus, MD, PhD.   “No ...
Cached Medicine Technology:CORPAK MedSystems Names Jeffrey Blair Chief Executive Officer 2CORPAK MedSystems Names Jeffrey Blair Chief Executive Officer 3PrimeraDx Launches the Only System Capable of Simultaneous Quantification of mRNA, microRNA and DNA 2
... safety and lower cost per test for the ... prep bottlenecks in the busy clinical lab... the ... quiet centrifuge spins standard 5 mL blood collection ... quality serum or plasma equal to 10-15 minute ...
... a unique closed system for performing fast, ... CenSlide 2000 system is microprocessor controlled to ... speed for one minute. At the end ... distributed evenly across the viewing area for ...
Used to provide drainage of urine from the bladder. All-silicone construction provides maximum softness and biocompatibility for enhanced patient comfort. Supplied sterile in peel-open packages. Inte...
... internal drainage from the ureteropelvic ... sterile in peel-open packages. Intended ... evaluation is advised; polyurethane, C-Flex, ... remain indwelling more than six ...
Medicine Products: