NEW YORK - Taro Pharmaceutical Industries Ltd. (NYSE: TARO) ('Taro' or the 'Company') today announced that leading independent proxy advisory firms Institutional Shareholder Services ('ISS') and Glass Lewis & Co. ('Glass Lewis') have both recommended that Taro shareholders vote 'FOR' the pending Merger transaction with Sun Pharmaceutical Industries Ltd. ('Sun Pharma') at the upcoming May 22, 2024, extraordinary general meeting of shareholders.

Taro's shareholders are reminded that the May 19, 2024, deadline for proxy voting is rapidly approaching and are urged to vote 'FOR' the transaction, as unanimously recommended by Taro's Special Committee, Board of Directors, Audit Committee and both proxy advisory firms.

To vote their shares, shareholders should refer to the proxy card that was mailed to them commencing April 15, 2024. Shareholders who have questions or need assistance voting their shares should contact Taro's proxy solicitor MacKenzie Partners, Inc., at (800) 322-2885 (from the United States and Canada) or collect at (212) 929-5500 (from other locations).

About Taro Pharmaceutical Industries Ltd. (NYSE: TARO)

Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products.

Forward-Looking Statements

This announcement contains forward-looking statements. Forward-looking statements can be identified by terminology such as 'will,' 'expects,' 'anticipates,' 'future,' 'intends,' 'plans,' 'believes,' 'estimates,' 'confident' and similar statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements involve factors, risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Such factors, risks and uncertainties include the possibility that the Merger will not occur on the timeline anticipated, or at all, if events arise that result in the termination of the Agreement, or if one or more of the various closing conditions to the Merger are not satisfied or waived, or if the regulatory review process takes longer than anticipated and other risks and uncertainties discussed in documents filed with the SEC by the Company as well as the Schedule 13E-3 and the proxy statement filed by the Company. All information provided in this press release is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.

Contact:

William J. Coote

Tel: (914) 345-9001

Email: William.Coote@taro.com

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