HAWTHORNE, N.Y.--(BUSINESS WIRE)--Oct. 26, 2005--Taro Pharmaceutical Industries Ltd. (“Taro,” Nasdaq: TARO) reported today that its U.S. affiliate will initiate a multi-center Phase III study in the United States to evaluate a novel formulation of Ovide(R), a prescription product for control of head lice (Pediculus humanus capitis) in pediatric and adult subjects.