Report To Taro Pharmaceutical Industries Ltd. From Independent Counsel Delayed, Expected By October 27, 2006

HAWTHORNE, N.Y.--(BUSINESS WIRE)--Taro Pharmaceutical Industries Ltd. (“Taro,” the “Company,” NASDAQ: TARO) today announced that a report from independent counsel relating to the previously announced restatement of the Company’s 2003 and 2004 financial results is currently expected by October 27, 2006. The report was previously expected by October 20, 2006.

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