Taro Pharmaceuticals Industries Ltd.

www.taro.com

High-Tech Company

Acquired by Sun Pharmaceuticals

TECH VERTICALS

Life Sciences, MedTech, Pharmaceuticals, Therapeutics

General Data

Sector	Biomed
Company Stage:	Revenue Growth
Established	1950
Number of Employees	1,550
Employees in Israel	740
Reg. Number:	abCDe

DESCRIPTION

Taro Pharmaceutical Industries is a research-based, international, specialty pharmaceutical company that develops, manufactures and markets prescription and over-the-counter pharmaceutical products. Taro develops high-quality, proprietary and off-patent pharmaceuticals for markets in the US, Canada, Israel and other countries around the world. The Company produces a wide range of prescription and over-the counter products including tablets, capsules, suspensions, solutions, creams, and ointments.

Taro additionally synthesizes the active ingredients used in many of its key products. This vertical integration gives the Company a competitive advantage in availability of quality raw materials, reliability of supply and the cost of active pharmaceutical ingredients. This gives Taro control over the manufacturing and quality control process from the active ingredient through to the finished dosage form.

Taro’s research programs and niche strategy have enabled the Company to achieve gross margins that are among the highest in the specialty pharmaceutical sector.

TECHNOLOGY

Pharmaceuticals

Products and Phases

Product	Phase
Ondanestron Injection	FDA Approved
Generic Zofran - Ondansetron Injection is used for the prevention of nausea and vomiting associated with chemotherapy.
Levetiracetam Tablets	FDA Approved
Taro's levetiracetam tablets is a prescription product used in the treatment of epilepsy

ESTIMATED ANNUAL SALES

Year	Amount
2017	500
2016	490
2015	480
2014	470
2013	460
2011	450
2009	440
2008	430
2007	420
2006	410
2005	400
2004	390
2003	380
2002	370
2001	360
2000	350

	TARGET MARKETS
	Consumers.

	BUSINESS MODEL
	B2C

SERVICE PROVIDERS

Company Name	Type
abC Defghij	Law Firm
abC Defghij	Accounting Firm
abC Defghij	Investment Bank

REMARKS

Date	Remark
17/01/2024	Sun Pharmaceutical and Taro Pharmaceutical announced that they have entered into a definitive acquisition agreement in which Sun Pharma has agreed to acquire all of the outstanding ordinary shares of Taro it does not already hold. Upon completion, currently expected in the first half of 2024, Taro will become a privately held company and its shares will no longer be listed on the NYSE. 06/2024: Acquisition was completed.
01/11/2010	Sun Pharmaceuticals paid additional $82m for Templeton's Taro shares. Sun increased its holding in Taro to 66.3%.
01/07/2007	Sun Pharmaceuticals bought control of Taro (53.2%) for $35m, after already investing in the company.

CONTACT INFO

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Main Address: Haifa, Israel

Address	14 Hakitor St., Haifa Bay
POB	10347
City	Haifa
Country	Israel
Zip	26110

Contact Person	abC Defghij
Contact E-Mail	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

Branch Address: Hawthorn, United States

Address	3 Skyline Dr.
City	Hawthorn
State/Province	NY
Country	United States
Zip	10532

Contact Person	abC Defghij
Contact E-Mail	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

Branch Address: Brampton, Ontario, Canada

Address	130 East Dr.
City	Brampton, Ontario
Country	Canada
Zip	L6T 1C1

Contact Person	abC Defghij
Contact E-Mail	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

	MANAGEMENT

Key Executive

Name	Title	Previous Position
Mr. Uday Baldota	CEO
Mr. William J. Coote	VP, CFO
Dr. Avi Avramoff	VP, Head of R&D	Dexcel Pharma (VP, Global Research & Generics Development)
Mr. Hagai Reingold	VP, Head of Operations
Mr. Vikash Agarwal	VP, Head of Business Development
Mr. Moshe Gavrilov	VP, Head of Commercial Israel & Rest of World
Mr. Erik Zwicker	VP, General Counsel
Ms. Michele Visosky	VP, Head of Human Resources

	BOARD

Board

Member	Title	Affiliation
abC Defghij	Chairman	Founder & Managing Director, Sun Pharmaceuticals
abC Defghij	Vice Chairman	CEO - North America, Sun Pharma
abC Defghij	Board Member	Non-Executive Director, Sun Pharmaceutical Industries
abC Defghij	Board Member	Formerly Executive VP, Chattem Chemicals
abC Defghij	Board Member	Former Dean, the Arison School of Business at IDC
abC Defghij	Board Member	CEO, Taro Pharmaceutical Industries
abC Defghij	Board Member	Venture Partner, Samsara BioCapital
abC Defghij	Board Member	Chairwoman of the Audit Committee

Mergers & Acquisitions

Round

Date

Stage

Amount

Valuation

Acquired

Jan. 17, 2024

Revenue Growth

abCDe

Acquired

Sep. 24, 2010

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij*	Other	abCDe	Sun Pharma has exercised the Option under its Option Agreement to acquire all the shares held by the controlling shareholders of Taro. The Option Agreement was a part of an acquisition agreement between Taro and Sun Pharma from 2007, which Taro terminated; 11/2010: Sun Pharma Purchased Templeton's shares in Taro for $82m and increased its holding to 65.8%. 2018: Holds 75% of the company.

Public Offerings

Deal Date	Type of Offering	Exchange	Amount Raise	Valuation	Remarks
Jun. 03, 2003	Third Public Offering	NYSE	abCDe	abCDe
Oct. 02, 2001	Second Public Offering	NYSE	abCDe	abCDe
Sep. 14, 1982	IPO	NYSE	abCDe	abCDe	06/2024: Delisted following acquisition by Sun Pharma.

	FINANCIAL ROUNDS

Total Capital Raised
abCDe

Financial Rounds

Numbers of Investors

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Round

Date

Stage

Amount

Valuation

PIPE

Jun. 01, 2007

Revenue Growth

abCDe

PIPE

Jun. 01, 2003

Revenue Growth

abCDe

PIPE

Aug. 01, 2000

Revenue Growth

abCDe

PIPE

Aug. 01, 1999

Revenue Growth

abCDe

	R&D Grants

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Round

Date

Stage

Amount

Remarks

R&D Grant

Jun. 30, 2003

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Government Agency	abCDe	R&D grant ($3.2m)

Last Updated:	abCDe
IVC Number:	abCDe