HAWTHORNE, N.Y.--(BUSINESS WIRE)--Taro Pharmaceutical Industries Ltd. (“Taro,” the “Company,” Pink Sheets: TAROF) today reported that the audit of its 2005 results has been completed, and the Company has filed its annual report for the year ended December 31, 2005 on Form 20-F (the “2005 Form 20-F”) with the U.S. Securities and Exchange Commission (“SEC”). The audited results for 2005 and restated results for 2004 are lower than previously provided unaudited estimates, as described below. In addition, Taro announced that, with the assistance of its financial advisor, The Blackstone Group, the Company is in discussions and negotiations with several interested parties regarding a number of strategic alternatives that would provide for Taro to continue as a growing business, all of which contemplate the repayment of all outstanding loans and bonds in full. These strategic alternatives include an equity investment, an infusion of working capital, or the purchase of the outstanding shares of the Company.
