Taro and J.B. Chemicals to Collaborate on Product Development for U.S. and Other Markets.HAWTHORNE Hawthorne. 1 City (1990 pop. 71,349), Los Angeles co., S Calif., a suburb of Los Angeles; inc. 1922. Located in an oil- and gas-producing area, Hawthorne manufactures navigation systems, solar panels, electronic components, silicon instruments, and , N.Y. -- Taro Pharmaceutical Industries Ltd. (Nasdaq: TARO, the "Company") reported today that it has entered into agreements with J.B. Chemicals & Pharmaceuticals Ltd. ("J.B. Chemicals") under which the companies will develop products jointly for the U.S. and other markets. Details of the agreements have not been disclosed. "This strategic arrangement with J.B. Chemicals is intended to enable Taro to utilize J.B. Chemicals' pharmaceutical expertise to enhance our competitive position in the U.S. and other countries with regard to certain products," said Samuel Rubinstein, General Manager of the Company. "We are very happy to partner with a strong vertically integrated company like Taro. This relationship brings together the strengths of the two companies and accelerates J.B. Chemicals' ability to become a serious generic player in the U.S. and other markets. This is in line with our objective to position ourselves as a 'partner of choice' for contract research and development," said Mr. J. B. Mody MODY Maturity onset diabetes mellitus of young Endocrinology A mild form of type 2 DM, with onset before age 25. See Type 2 DM. , Chairman and Managing Director of J.B. Chemicals. J. B. Chemicals & Pharmaceuticals Ltd. is among India's leading global pharmaceutical companies. The company manufactures and markets a wide range of pharmaceutical formulations Pharmaceutical formulation, in pharmaceutics, is the process in which different chemical substances are combined to a pure drug substance to produce a final medicinal product. , bulk drugs and other health-related products. More information is available at www.uniquepharma.com. 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. For further information, please visit www.taro.com. Certain statements in this release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including statements regarding the collaboration Working together on a project. See collaborative software. agreement between Taro and J.B. Chemicals. Although Taro Pharmaceutical Industries Ltd. believes the expectations reflected in such forward-looking statements to be based on reasonable assumptions, it can give no assurance that its expectations will be attained at·tain v. at·tained, at·tain·ing, at·tains v.tr. 1. To gain as an objective; achieve: attain a diploma by hard work. 2. . Factors that could cause actual results to differ include industry and market conditions; slower than anticipated penetration of new markets; the ability of the companies to work together effectively; physician, pharmacist pharmacist /phar·ma·cist/ (fahr´mah-sist) one who is licensed to prepare and sell or dispense drugs and compounds, and to make up prescriptions. phar·ma·cist n. or patient acceptance of any product or products on which Taro and J.B. Chemicals collaborate; approvals of J.B. Chemicals' facilities by regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities ; changes in the Company's financial position; regulatory actions; and, other risks detailed from time to time in the Company's SEC reports, including its Annual Reports on Form 20-F. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update, change or revise any forward-looking statements, whether as a result of new information, additional or subsequent developments or otherwise. |
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