Sun offers to buy 100% stake in Taro Pharmaceuticals

• Published date: 30 May 2023

Taro's board of directors said that it has set up a special independent committee of directors to examine the offer

Taro's share price is 80% below its peak in 2015, when the company had a market cap of $7 billion. Over the past year, the company's share price is down 20%, before the recent jump in afterhours trading.

Taro has gone beneath the radar in recent years. The veteran generic drug producer was founded in Israel in 1950 and at the end of 2022 had 1,455 employees, nearly half of them in Israel working in...