The following is a brief history of the milestones in Taro's development:

1950
Israeli pharmacists and American physicians, led by the Levitt and Moros families, collaborate to establish Taro Pharmaceutical Industries Ltd. The company’s name – taken from the Hebrew words for pharmaceutical industry – reveals the dream of the founders. They believe that Taro can play a role in helping Israel, then just two years old, poor in natural resources, but rich in intellectual capital, to develop a world-class pharmaceutical industry.

1957
Taro acquires the rights to the Coumadin®, Percodan®, and Percocet® brands* in Israel.

1960
The political environment in the Middle East makes it difficult at times for Taro to obtain active pharmaceutical ingredients (API’s) to use in its medications. The Company launches a chemical synthesis program to produce API’s from raw chemicals. Over time, this enables Taro to manufacture both the API and finished dosage form for many of its key medications, allowing the Company to tightly control quality and consistency of supply.

1961
Taro becomes a public company through a 1961 Initial Public Offering (IPO) in the U.S. Taro stock is traded over-the-counter on the "pink sheets."

1982
Taro shares are listed on The Nasdaq Stock Market. The Company’s total market capitalization is under $5 million.

1984
Taro purchases a small Canadian manufacturer of topical medications (i.e., creams, ointments, gels, solutions) near Toronto, allowing entry into the North American generic pharmaceutical market. Topical dermatological medications will become a pharmaceutical niche in which Taro will be a dominant force in the U.S. and Canada.

1988
Taro enters the U.S. market with its first FDA-approved topical product.

1991
Taro makes a commitment to a research-based business model, with the goal of generating a stream of new product approvals through investment in its own R&D programs. The Taro Research Institute is created to coordinate the new initiative.

1992
Taro International Ltd. is established to capitalize on new marketing opportunities around the world.

1996
Taro receives its first U.S. approval for an oral dosage form product: Carbamazepine Tablets, used primarily to control epileptic seizures.

1998
Taro receives regulatory approval to market Carbamazepine Tablets in the U.K., the Company’s first product there.

1999
Warfarin Sodium Tablets, the generic form of Coumadin®, are approved for sale in the U.S. Warfarin, one of the pharmaceutical products for which Taro manufactures its own API, would later be approved in Canada (2000) and the UK (2002), extending the Company’s market for this important medication.

2000
After a decade of productive R&D, Taro has received 50 approvals for prescription pharmaceuticals in the U.S. Most are semi-solids for use in dermatology, joined by a growing line of oral medications used in cardiology and neurology. New products play a direct role in Taro's financial performance:  In 2000, sales exceed $100 million for the first time and net income reaches a record $10 million.

2001
Taro's sales and net income continue to grow, reaching $150 million and $26 million, respectively.  A public offering yields $126 million for the Company.

2002
A facility is acquired in New York for Taro's first U.S. research laboratories.  Sales reach $211.6 million; net income reaches $44.6 million.

2003
Taro acquires a multipurpose pharmaceutical research and manufacturing facility in Roscrea, Ireland.  The TaroPharma division is established to promote proprietary prescription and over-the-counter products directly to physicians in the U.S. and Canada, and the Taro Consumer Healthcare Products division begins marketing proprietary over-the-counter products directly to consumers in the U.S.   Sales reach $315.5 million and net income reaches $61.2 million.

2004
A 315,000-square-foot distribution center is acquired in South Brunswick, NJ.

* In Israel, Coumadin, Percodan and Percocet are registered trademarks of Taro Pharmaceuticals U.S.A., Inc. Elsewhere in the world, Coumadin is a trademark of the Bristol-Myers Squibb Company, and Percodan and Percocet are trademarks of Endo Pharmaceuticals, Inc.