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Sun Pharmaceutical Sends Letter to Directors of Taro

stead done them a disservice.

In light of these results, and with any residual sense of your fiduciary duties as directors, we expect that you will now reconsider and reverse your position regarding these actions. Failing to do so, and continuing to provide active support, with Taro funds, to the Levitt family in its attempt to avoid its contractual obligations towards us, will constitute a further breach of your fiduciary duties to Taro as well as its shareholders.

In addition, as our attorneys have confirmed to Taro in the past, please be advised that we will take all necessary legal action to reverse the cynical attempt by the Levitt family to reward you, again with the funds of Taro, for the actions you have taken at their behest by purporting to ratify and expand your indemnification agreements. We are confident that the Israeli courts will reject this unwarranted raid on Taro's treasury.

This letter is delivered without prejudice to any other claim, argument or remedy that we have or may have against you in this or any other matter.


    Sincerely yours,
    For Sun Pharmaceutical Industries Ltd.

    /s/ Dilip Shanghvi

    Dilip Shanghvi
    Chairman & Managing Director

    Copy to:

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

    2.    The Board of Directors
          Taro Pharmaceutical Industries Limited
          Euro Park (Italy Building)
          Yakum Business Park
          Yakum 60972, Israel
          Fax:  972-9-955-7443

    3.    The Board of Directors
          Taro Pharmaceutical Industries Ltd.
          Three Skyline Drive, Hawthorne
          New York 10532, USA
          Fax: 1-914-345-8728

About Sun Pharmaceutical Industries Ltd.

Established in 1983, listed since 1994 and hea

SOURCE Sun Pharmaceutical Industries Ltd.
Copyright©2010 PR Newswire.
All rights reserved

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