Tel-Aviv Court Rules in Favor of Sun Pharmaceutical; No Special Tender Offer Necessary in Taro Offer Aug 27, 2008
MUMBAI, India, Aug. 26 /PRNewswire/ -- Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUN PHARMA, BSE: 524715) today announced it was victorious in all elements of its defense of the litigation brought against it in the Tel-Aviv District Court by Taro Pharmaceutical Industries Ltd. (Taro) and certain of its directors. The Tel-Aviv Court yesterday rejected Taro's contention that Sun Pharma should have conducted a "special tender offer" under Israeli Law. (PR Newswire)
Sun Pharma Announces U.S. FTC Clearance for Taro Tender Offer Aug 14, 2008
MUMBAI, India, Aug. 13 /PRNewswire/ -- Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUN PHARMA, BSE: 524715) today announced that on August 13, 2008, the U.S. Federal Trade Commission (FTC) granted early termination of the antitrust waiting period under the Hart-Scott-Rodino Act (HSR) for the previously announced Tender Offer by Alkaloida Chemical Company Exclusive Group Ltd. (Alkaloida), a subsidiary of Sun Pharma, for all outstanding Ordinary Shares of Taro... (PR Newswire)
Stocks to Watch Jul 16, 2008
Sun Pharmaceuticals has extended the last date for buying the outstanding shares of Taro Pharmaceutical to September 2, from the earlier deadline of July 28, on the recommendations of the Tel-Aviv District Court. Tata Motors, which has been awash with Nano-related queries from across global markets, is mulling the licensing route for mass manufacturing the Nano overseas. (India Times, India -- Intl Business)
Sun Pharma Extends Tender Offer for Taro Jul 15, 2008
MUMBAI, India, July 14 /PRNewswire/ -- Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUN PHARMA, BSE: 524715) today announced its subsidiary, Alkaloida Chemical Company Exclusive Group Ltd. (Alkaloida), has extended the Expiration Date of the Tender Offer for purchase of all outstanding Ordinary Shares of Taro Pharmaceutical Industries Ltd. (Taro). The Offer has been extended to 5:00 p.m., New York City time, on Tuesday, September 2, 2008. (PR Newswire)
Taro Pharma says Sun's tender offer a 'sham' Jul 13, 2008
NEW DELHI: Hardening its stance against takeover bid by India's Sun Pharma, Israeli company Taro Pharmaceutical said the tender offer by the Mumbai-based company was a 'sham. Responding to Sun's recent offer to acquire all the outstanding shares of Taro at an offer price of $7. (Times of India)
Sun launches $7.75/share bid for Taro Pharma Jul 1, 2008
MUMBAI: Sun Pharmaceuticals on Monday launched a cash tender offer for all outstanding ordinary shares of Taro Pharmaceutical Industries for $7. 75 per share. (Economic Times)
Corporate buzz for the week gone by Jun 29, 2008
Sun Pharma makes unsolicited bid In a rare instance of an Indian firm making an unsolicited bid for a foreign firm, Sun Pharma launched a hostile bid to acquire Israels Taro Pharmaceutical Industries. This follows Taro rejecting a merger agreement with Sun last month terming the offer inadequate. (Economic Times)
Option pact to help Sun acquire Taro Jun 28, 2008
Founders of Taro Pharmaceutical will be compelled to tender their shares to Sun Pharmaceutical, India's largest pharma company by market capitalisation, in its bid for a hostile takeover of the Israeli firm, thanks to a clause in the agreement reached between the companies earlier. According to the option agreement reached between Taro's promoter family-owned Taro Development Corporation (TDC) and Sun Pharma's Hungarian subsidiary, Alkaloida Chemical Company, the Israeli owners will have to... (Business Standard)
Sun Pharma raises the heat on Taro Jun 27, 2008
MUMBAI: Sun Pharmaceutical Industries, the countrys most valuable drugmaker, has decided to launch a hostile bid for Israels Taro Pharmaceutical Industries. This is a rare instance of an Indian company making an unsolicited bid for a foreign firm. (India Times)
Taro moves court against Sun Pharma Jun 21, 2008
NEW DELHI: The row between Sun Pharma and Israel's Taro Pharmaceutical has now reached court after the cancellation of $454 million merger deal between the two. Taro Pharmaceutical has taken the Mumbai-based firm to court as it presses to go ahead with sale of its Irish operations and 'protect minority share holders' in the event of the former trying to gain voting rights through open market share purchase. (India Times, India -- Intl Business)
Sun Pharma opposes Taros Irish arm sale Jun 6, 2008
NEW DELHI: To protect its proposed merger with Italian company Taro Pharmaceutical Industries Ltd (Taro), Sun Pharma has strongly opposed Taros decision to sale its Irish subsidiary, Taro Pharmaceuticals Ireland Ltd (Taro Ireland). Recently, Sun Pharma had entered into a $ 454 million merger agreement with Taro. (India Times, India -- Intl Business)
Sun Pharma net up 90% on exclusive rights in US May 31, 2008
Sun Pharma, struggling with its proposed acquisition of Israels Taro Pharmaceutical Industries Ltd which would have given it significant market presence in the US had launched two generic drugs in the US with marketing exclusivity for six months. . (Livemint)
Taro Receives Tentative FDA Approval for Lamotrigine Tablets ANDA Apr 3, 2008
Source: Taro Pharmaceutical Industries Ltd. ... HAWTHORNE, N.Y., April 3, 2008 (PRIME NEWSWIRE) -- Taro Pharmaceutical Industries Ltd. (``Taro,'' the ``Company,'') (Other OTC: - ) reported today that it has received tentative approval from the U.S. Food and Drug Administration (``FDA'') for its Abbreviated New Drug Application (``ANDA'') for Lamotrigine Tablets 25 mg, 100 mg, 150 mg, and 200 mg (``Lamotrigine Tablets'') ... Taro Pharmaceutical Industries Ltd. is a multinational, science-based... (Primezone Releases)
Sun ups Taro stake Feb 21, 2008
Mumbai, Feb. 20: Sun Pharmaceutical has increased its stake in Israel-based Taro Pharmaceutical Industries to 34. 4 per cent. Sun Pharmaceuticals indirect subsidiary, Alkaloida Chemical Company Exclusive Group, has bought over 37. (Calcutta Telegraph)
Sun Pharma ups stake in Taro Feb 20, 2008
4 per cent, in Israeli generic drug maker Taro Pharmaceutical Industries Ltd.. The shares, purchased by an indirect subsidiary of Sun from Brandes Investment Partners, took the stake held by Sun and its subsidiaries in Taro to 34. (India Times)
Taro Provides Preliminary 2007 Full Year Results Feb 19, 2008
Source: Taro Pharmaceutical Industries Ltd. ... HAWTHORNE, N.Y., Feb. 19, 2008 (PRIME NEWSWIRE) -- Taro Pharmaceutical Industries Ltd. (``Taro,'' the ``Company,'') (Other OTC: - ) today provided information for the year ended December 31, 2007 ... Taro Pharmaceutical Industries Ltd. logo is available at. (Primezone Releases)
Taro Postpones Shareholder Meetings on Proposed Merger with Sun until September 25, 2007 Jul 23, 2007
HAWTHORNE, N.Y.--(BUSINESS WIRE)--Taro Pharmaceutical Industries Ltd. ("Taro," the Company, Pink Sheets: TAROF) today announced that it will reschedule its shareholder meetings, originally scheduled for July 23, 2007 in Tel Aviv, Israel to September 25, 2007, in order to allow shareholders additional time to fully consider the proposed transaction with Sun Pharmaceutical Industries, Ltd. ("Sun," Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) ... For further information on Taro... (BusinessWire)
Brandes Opposes Sun and Taro Pharmaceutical Merger Proposal Jul 7, 2007
8% of the shares outstanding for Taro Pharmaceuticals Inc. ("Taro") based on 36. 5 million shares outstanding in the notice to shareholders dated June 8, 2007. (PR Newswire)
Taro says acquisition by Sun to proceed after court ruling May 22, 2007
Reuters - Taro Pharmaceutical Industries Ltd. said its acquisition by India's Sun Pharmaceutical Industries Ltd. will continue as planned, following a Tel Aviv court's favorable ruling on a case filed by two of its minority shareholders. Franklin Advisers Inc. and Templeton Asset Management Ltd. moved an Israeli court to restrain Taro from concluding any deal that could hurt minority interests. (NDTV.com)
Indian pharmaceutical makes U.S. acquisition May 22, 2007
NEW DELHI: Sun Pharmaceutical Industries, India's biggest drug maker, agreed to buy Taro Pharmaceutical Industries, an unprofitable producer of generic medicines, giving it factories and distribution assets in the United States. Sun offered $230 million in cash and an extra $224 million to refinance Taro's debt, the Mumbai-based company said in a statement Monday. (International Herald Tribune -- Business Asia)
Sun Pharma to buy Taro for $454 mn May 21, 2007
MUMBAI: Sun Pharmaceutical Industries Ltd. said it had agreed to buy Israel's Taro Pharmaceutical Industries Ltd. for an equity value of $230 million, 27 percent higher than its Friday's close. The announcement drove Sun shares up as much as 3. (India Times)
Bank, FMCG, oil & gas keep market aloft May 21, 2007
14% to Rs 1,045 on the news the company had acquired Taro Pharmaceutical Industries, a multinational generic manufacturer. Hindustan Sanitaryware was up 0. (India Times)
India's Sun Pharma buys Israel's Taro for 454 million dollars May 21, 2007
New Delhi - India's Sun Pharmaceutical Industries Ltd has signed agreements to acquire Israel's Taro Pharmaceutical Industries Ltd in a 454-million-dollar deal, Sun said in a notice Monday to the Bombay Stock Exchange. This is the first investment in Israel by a multinational pharmaceutical company based in India. (Monsters and Critics.com)
India's Sun Pharmaceutical buys Taro May 21, 2007
Taro Pharmaceutical Industries (Nasdaq: ), an Israeli generic drugs company known for playing its cards close to its chest, won't be dealing in the public arena any more. It has accepted an offer from Mumbai-listed Sun Pharmaceutical Industries in a transaction valued at $454 million, including debt assumption. (Ha'aretz)
Onyx Options Buying Surged Before Announcement of Nexavar Drug's Success Feb 14, 2007
In a lawsuit filed last week, the SEC accused two hedge funds and their managers, Amir Rosenthal and David Heyman, of trading on confidential information about drug approvals, allegedly leaked by Amir's father, former Taro Pharmaceutical Industries Ltd. vice president Zvi Rosenthal. Onyx learned during the weekend that safety monitors reviewing the drug trial had ordered an early halt to the study because the medicine was proving successful, Chief Executive Officer Hollings Renton said in an... (Bloomberg)
Former Thacher Proffitt Associate Admits Role in Insider Trading Scheme Feb 9, 2007
7 million by trading on inside information provided by Rosenthal's 62-year-old father, Zvi, a former executive at Taro Pharmaceutical Industries, Ltd., according to prosecutors and the Securities and Exchange Commission ... Zvi Rosenthal, wiping away tears, admitted that since 2001 he had provided Amir with inside information about Taro Pharmaceutical, including details about pending Food and Drug Administration approval for the company's drugs. (Law.com)
SEC Charges Family in Insider-Trading Scam Feb 9, 2007
7 million insider-trading scheme that grew to include friends and relatives and relied on information they stole from their employers, including Taro Pharmaceutical Industries Ltd. (TAROF) and accounting firm PricewaterhouseCoopers. The Securities and Exchange Commission filed civil charges against 10 defendants in New York district court. (SmartMoney)
