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Sun Pharmaceutical Sends Letter to Directors of Taro
Date:1/11/2010

MUMBAI, India, Jan. 11 /PRNewswire/ -- Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) today sent a letter to Directors of Taro Pharmaceutical Industries Ltd. (Taro) regarding the outcome at the Annual General Meeting of shareholders of Taro scheduled for December 31, 2009.

The full text of Sun's letter to Directors of Taro appears below:


    January 11, 2010

    To

    Arye Barak
    Heather Douglas, Esq.
    Prof. Micha Friedman
    Eric Johnston, Esq.
    Prof. Gad Keren
    Myron Strober, CPA

    Taro Pharmaceutical Industries Limited
    14 Hakitor Street
    P.O. Box 10347
    Haifa Bay 26110, Israel
    Fax: 972-4-872-7165

Dear All:

As you know, the Annual General Meeting of Taro Pharmaceutical Industries Ltd. took place on December 31, 2009. The results of the voting show that over 75% of votes cast by Taro shareholders who are not aligned with the Levitt family or with Sun have rejected the continuing control of the Levitt family and their designees to Taro's board of directors. It is now clear that an overwhelming majority of Taro's public shareholders demand a change in the control of Taro and the composition of its board of directors.

Your repeated claims that you initiated and continue to maintain the ongoing legal proceedings against Sun in order to protect this minority are completely untenable. It has been apparent to Sun from the beginning that your real interest in commencing the various litigations on behalf of Taro against Sun was and remains your misplaced and unexplained desire to help only the Levitt family avoid their contractual obligation to sell their shares in Taro to us. Now Taro's public shareholders have come to recognize this fact. These litigations have done nothing to advance the interests of the "silent minority shareholders" of Taro, as you have wrongly claimed, but have in
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SOURCE Sun Pharmaceutical Industries Ltd.
Copyright©2010 PR Newswire.
All rights reserved

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