Agreed Price of US$43.00 per Share to Deliver 48% Premium to Unaffected Price on May 25, 2023
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/18/2024 | $43.00 | Buy → Neutral | H.C. Wainwright |
| 1/31/2022 | $75.00 → $73.00 | Buy | HC Wainwright & Co. |
| 1/18/2022 | $82.00 → $75.00 | Buy | HC Wainwright & Co. |
| 7/28/2021 | $80.00 → $82.00 | Buy | HC Wainwright & Co. |
Combined entity is better positioned to compete in increasingly competitive generics industry MUMBAI, India and PRINCETON, N.J., June 24, 2024 /PRNewswire/ -- Sun Pharmaceutical Industries Limited (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715 (together with its subsidiaries and/or associated companies, "Sun Pharma")) today announced the successful completion of the merger of Taro Pharmaceutical Industries Ltd. (NYSE:TARO) ("Taro") with its subsidiary. As part of this merger, Sun Pharma acquired all outstanding ordinary shares of Taro other than the shares already held by Sun Pharma or its affiliates. As a result of the merger, Taro is now a private company and wholly-own
MUMBAI, India and NEW YORK, May 23, 2024 /PRNewswire/ -- Sun Pharmaceutical Industries Limited (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715) (together with its subsidiaries and/or associates referred as "Sun Pharma") and Taro Pharmaceutical Industries Ltd. (NYSE:TARO) ("Taro" or the "Company") today announced that the merger agreement between Taro and Sun Pharma was approved by the affirmative vote of Taro shareholders (including a vote of the majority of shares held by Taro shareholders unaffiliated with Sun Pharma) at an Extraordinary General Meeting and an Ordinary Class Meeting on May 22, 2024. The details of the merger agreement were announced on January 17, 2024.
Taro Pharmaceutical Industries Ltd. (NYSE:TARO) ("Taro" or the "Company") today provided unaudited financial results for the quarter and year ended March 31, 2024. Quarter ended March 31, 2024 Highlights ─ compared to March 31, 2023 Net sales of $164.9 million increased $18.4 million, or 12.5%, principally due to new launches and gross-to-net ("GTN") adjustments. Excluding the impact of GTN adjustments, sales growth was high single digits. Gross profit of $87.4 million (53.0% of net sales) compared to $75.7 million (51.6% of net sales). Research and development (R&D) expenses of $20.5 million increased $4.2 million. Selling, marketing, general and administrative expenses (SG&A
Taro Pharmaceutical Indus (NYSE:TARO) reported quarterly earnings of $0.43 per share which beat the analyst consensus estimate of $0.31 by 38.71 percent. The company reported quarterly sales of $164.941 million which beat the analyst consensus estimate of $156.062 million by 5.69 percent. This is a 12.52 percent increase over sales of $146.587 million the same period last year.
Krensavage Asset Management today sent the following message to a special committee evaluating Sun Pharmaceutical Industries Ltd.'s bid for Taro Pharmaceutical Industries Ltd. Dear Linda, As the largest minority shareholder1 of Taro Pharmaceutical Industries Ltd. (NYSE:TARO), Krensavage Asset Management LLC remains opposed to Sun Pharmaceutical Industries Ltd.'s inadequate bid to take Taro private.
H.C. Wainwright downgraded Taro Pharm from Buy to Neutral and set a new price target of $43.00
HC Wainwright & Co. reiterated coverage of Taro Pharmaceutical Indus with a rating of Buy and set a new price target of $73.00 from $75.00 previously
HC Wainwright & Co. reiterated coverage of Taro Pharmaceutical Indus with a rating of Buy and set a new price target of $75.00 from $82.00 previously
Taro Pharmaceutical Industries Ltd. (NYSE:TARO) ("Taro") today announced the appointment of William J. Coote as Vice President, Chief Financial Officer and Chief Accounting Officer, effective today. Mr. Coote has over 25 years of significant financial executive experience; most recently serving as Taro's AVP, Treasurer and Business Finance since 2008. Prior to joining Taro, Mr. Coote has held progressively responsible positions with a variety of global companies such as Bowne & Co., Prudential Realty, Merrill Lynch, and Ernst & Young. Throughout his career, he has been accountable for areas such as: Accounting, Treasury, Budgeting, Financial Planning and Analysis, Acquisitions, Investor R
Taro Pharmaceutical Industries Ltd. (NYSE:TARO) ("Taro" or the "Company") announced today that it has accepted the resignation of its Chief Financial Officer, Daphne Huang, effective August 6, 2021. Ms. Huang is leaving the Company in order to pursue other opportunities. Mr. Uday Baldota, Taro's CEO, stated, "On behalf of the Company, I want to thank Daphne for her valuable contributions including her efforts over the past year during the COVID-19 pandemic. We wish her the best in her future endeavors." The Company has initiated a search for a successor as Chief Financial Officer. About Taro Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company, de
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Taro Pharmaceutical Industries Ltd. (NYSE:TARO) announced today that it plans to release its financial results for the third quarter ended December 31, 2023, after the close of market on Thursday, January 25, 2024. The release will be accessible on Taro's website at www.taro.com. About Taro Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company, dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. For further information on Taro Pharmaceutical Industries Ltd., please visit the Company's website at www.taro.com. View source version on businesswir
Taro Pharmaceutical Industries Ltd. (NYSE:TARO) announced today that it plans to release its financial results for the second quarter ended September 30, 2023, after the close of market on Thursday, October 26, 2023. The release will be accessible on Taro's website at www.taro.com. About Taro Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company, dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. For further information on Taro Pharmaceutical Industries Ltd., please visit the Company's website at www.taro.com. View source version on businessw
Taro Pharmaceutical Industries Ltd. (NYSE:TARO) announced today that it plans to release its financial results for the first quarter ended June 30, 2023, after the close of market on Wednesday, July 26, 2023. The release will be accessible on Taro's website at www.taro.com. About Taro Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company, dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products. For further information on Taro Pharmaceutical Industries Ltd., please visit the Company's website at www.taro.com. View source version on businesswire.com: h
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