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

d of Directors in pursuing the sale:

-- First, why is the value of Taro Ireland in the proposed sale agreement

less than the real estate value of the facilities? In our view, the

agreement in principle with this particular buyer significantly

undervalues the entire facility -- even if one were to take into

account only the existing asset base and ignore any future growth

potential. If one were to add the potential revenue and profit from

sales of products across Europe, the attractiveness of the entire Irish

facility and operations increases multifold.

-- Second, we understand that the proposed consideration for Taro Ireland

includes earn-out payments based on future profits of the operations

over a long period of time. While we anticipate strong future growth

potential, such earn-out payments are contingent on the performance of

the third party buyer and, if payable, are only received at some future

time by Taro. To date, Taro has neither been able to reconcile the

valuation nor provide evidence that this is the best offer available.

-- Third, Taro has provided no evidence of a transparent sale process.

Given the undervaluation mentioned above, and the fact that the

identified buyer is personally close to senior Taro officials, we have

doubts as to the arm's length nature of this transaction. This close

relationship between Taro's management and the proposed buyer is

especially troubling, given Taro's repeated refusal to consider Sun as

a potential buyer of the Irish facility on the grounds that we were a

"related party" and the difficulties that Taro's management claimed

were inherent in such a transaction with a related party.

Sun vigorously disputes the termination of the Merger Agreement by Taro and will not stand by idly if Taro pursues
'/>"/>

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:12/17/2014)... -- Expectant parents should leave prenatal picture-taking to medical ... Use of ultrasound imaging and heartbeat monitors to get ... agency warns. "Although there is a lack ... and heartbeat monitors, prudent use of these devices by ... FDA biomedical engineer, said in an agency news release. ...
(Date:12/17/2014)... HealthDay Reporter , TUESDAY, Dec. 16, ... America, and work commitment is a big reason why, new ... said Dr. Mathias Basner, an assistant professor of sleep and ... of Medicine. A time-use survey of nearly 125,000 Americans, ... main activity exchanged for sleep. Short sleepers -- those who ...
(Date:12/15/2014)... 15, 2014 South Florida’s leading urgent care ... can be a daze of hassle, hustle, and bustle that ... decking halls, to burns when making special meals and heartburn ... can happen at any time. To prevent this season of ... made a list of helpful and healthful holiday tips to ...
(Date:12/15/2014)... News) -- Expert pilots process visual information more efficiently ... better decisions during landings, a new study shows. ... pilots to master, and 36 percent of all airplane ... final approach and landing. Researchers monitored the brain ... pilots while they were at the controls of a ...
(Date:12/15/2014)... 15, 2014 At the leading, long-established ... AutismOne and Focus Autism will welcome ... research on the effects of toxins to children’s health, ... information. , Luminaries such as Dr. Lucija Tomljenovic ... with esteemed, credentialed colleagues of the United States to ...
Breaking Medicine News(10 mins):Health News:FDA Warns Against Fetal 'Keepsake' Videos 2Health News:Work Steals Valuable Sleep Time, Study Finds 2Health News:Work Steals Valuable Sleep Time, Study Finds 3Health News:MD Now Urgent Care Presents Healthy Holiday Tips 2Health News:MD Now Urgent Care Presents Healthy Holiday Tips 3Health News:Study Shows Why Expert Pilots Are Experts 2Health News:AutismOne and Focus Autism Collaborate on Scientific Conference; International Group of Researchers to Present in Chicago, May 2015 2Health News:AutismOne and Focus Autism Collaborate on Scientific Conference; International Group of Researchers to Present in Chicago, May 2015 3
... March 12 For Southern California residents who are looking to ... classified as obese, who have a BMI of over 40, are prime candidates for ... of lap band and gastric bypass surgery can lose anywhere ... they choose. , ...
... (IWV) will host a conference call to discuss its new health care poll Monday, March 15 at NOON ET .  The poll surveys attitudes in 35 ... ... ... ...
... year, nearly three million youths run away from home, putting themselves at a high risk for drug addiction, prostitution, disease ... the risks associated with teen homelessness and the services available to youth in crisis.   , ... ... , ...
... LLC to provide Medication Therapy Management (MTM) to City of Minneapolis employees and family members with Medica health plan coverage. ... ... , ... ...
... Day allows members of the radiation oncology treatment ... experienced Washington policymakers. Participants in this annual event ... the future of radiation oncology., ASTRO recognizes that ... in the present and future,of the specialty but ...
... cancer in one breast should have other one scanned, researchers ... are more likely to turn up undiagnosed tumors in the ... other breast, researchers report. , However, the scans are less ... "Our findings are not really surprising because we know that ...
Cached Medicine News:Health News:Dr. Feiz (drfeiz.com) Asks: What Is Better for You? Lap Band Surgery/Realize Band Surgery or Gastric Bypass Surgery 2Health News:Dr. Feiz (drfeiz.com) Asks: What Is Better for You? Lap Band Surgery/Realize Band Surgery or Gastric Bypass Surgery 3Health News:Independent Women's Voice Releases Health Care Poll 2Health News:National Safe Place Week Helps Prevent Teen Homelessness 2Health News:National Safe Place Week Helps Prevent Teen Homelessness 3Health News:National Safe Place Week Helps Prevent Teen Homelessness 4Health News:Medica Selects Fairview Pharmacy Services, LLC to Deliver Medication Therapy Management Services to City of Minneapolis Employees 2Health News:Medica Selects Fairview Pharmacy Services, LLC to Deliver Medication Therapy Management Services to City of Minneapolis Employees 3Health News:Medica Selects Fairview Pharmacy Services, LLC to Deliver Medication Therapy Management Services to City of Minneapolis Employees 4Health News:Medica Selects Fairview Pharmacy Services, LLC to Deliver Medication Therapy Management Services to City of Minneapolis Employees 5Health News:ASTRO awards 17 Advocacy Day travel grants 2Health News:MRIs May Detect Hidden Tumors in Breast Cancer Patients 2
(Date:12/17/2014)... 2014  IGI Laboratories, Inc. (NYSE MKT: IG; "IGI" ... offering of $125 million aggregate principal amount of 3.75% ... were offered and sold only to qualified institutional buyers ... 1933, as amended (the "Securities Act"). The ... per year, payable semiannually in arrears on June 15 ...
(Date:12/15/2014)... 15, 2014 Registreer nu via  ... und 20. Februar sind alle akkreditierten pharmazeutischen ... ECOSYSTEM PARTNER PROGRAMM ™ 2015 in ... Diese Tagung soll dazu beitragen, der ... die neue profitablen Unternehmensdienstleistungen, die für Apotheken ...
(Date:12/15/2014)... --Research and Markets , ... announced the addition of the "Cardiac Guidewires - ... offering. Global Guidewires sector is projected to reach ... accounts for nearly 35% (2015) of the ... approximately 25% (2018). Asia-Pacific is ...
Breaking Medicine Technology:IGI Laboratories Announces Closing of $125 Million of 3.75% Convertible Senior Notes Due 2019 2IGI Laboratories Announces Closing of $125 Million of 3.75% Convertible Senior Notes Due 2019 3IGI Laboratories Announces Closing of $125 Million of 3.75% Convertible Senior Notes Due 2019 4Symposium über Aegates Ecosystem-Partner-Programm für sichere Medikamente vom 19. - 20. Februar 2015 in Amsterdam 2Cardiac Guidewires - Global Trends, Estimates and Forecasts, 2012-2018 2Cardiac Guidewires - Global Trends, Estimates and Forecasts, 2012-2018 3Cardiac Guidewires - Global Trends, Estimates and Forecasts, 2012-2018 4
... , , , ... HBP; OTCQX: HXBPF) today announced financial results for the first ... HIGHLIGHTS , DOS47/L-DOS47 , Helix announced that a ... Food and Drug Administration ("FDA") in which the FDA generally ...
... ... new market research report is available in its catalogue: , ... , http://www.reportlinker.com/p0164322/Medical-Fiber-Optics---A-World-Market-Analysis.html , Fiber optics work on ... enclosed in an element encased by glass in air of ...
Cached Medicine Technology:Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 2Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 3Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 4Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 5Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 6Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 7Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 8Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 9Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 10Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 11Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 12Helix BioPharma Corp. Announces Fiscal Q1 2010 Results 13Reportlinker Adds Medical Fiber Optics - A World Market Analysis 2Reportlinker Adds Medical Fiber Optics - A World Market Analysis 3Reportlinker Adds Medical Fiber Optics - A World Market Analysis 4Reportlinker Adds Medical Fiber Optics - A World Market Analysis 5Reportlinker Adds Medical Fiber Optics - A World Market Analysis 6
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
... Laboratories is a national reference laboratory and ... and development. ARUP offers an extensive test ... tests in clinical and anatomic pathology. Owned ... clients include more than half of the ...
... a national reference laboratory and a worldwide ... ARUP offers an extensive test menu of ... clinical and anatomic pathology. Owned by the ... more than half of the nation's university ...
... a national reference laboratory and a worldwide ... ARUP offers an extensive test menu of ... clinical and anatomic pathology. Owned by the ... more than half of the nation's university ...
Medicine Products: