Taro Pharmaceutical Industries Ltd. Postpones Shareholder Meetings on Proposed Merger with Sun Pharmaceutical Industries Ltd until September 25, 2007; Sun Pharmaceutical Industries Ltd To Exercise Warrants, Providing Additional Liquidity to Taro Pharmaceu

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).

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