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To: Rick Buskey who wrote (4750)	7/26/2001 8:29:50 AM
From: Bocor	Respond to of 6873

DJ Taro Pharma Files Shrs-2: Has 10.7M Shrs Outstanding 25 Jul 17:44 HAWTHORNE, N.Y. (Dow Jones)--Taro Pharmaceutical Industries Ltd. (TARO) filed a registration statement with the Securities and Exchange Commisssion for an offering of up to 5.75 million ordinary shares on a post-split basis, following a 2-for-1 stock split that will be paid Thursday. Taro currently has about 10.7 million shares outstanding, before adjustment for the stock split. In a press release Wednesday, the company said it plans to sell 3.2 million shares, with shareholders selling the additional 1.8 million shares. The company may also sell up to 750,000 shares upon exercise of the underwriters' overallotment option. Merrill Lynch & Co. (MER) is acting as lead managing underwriter for the offering. The selling shareholders will be Barrie Levitt, Taro's chairman, Aaron Levitt, president, and Daniel Moros, vice-chairman. The three beneficially own about 29% of Taro's outstanding ordinary shares. Following their exercise of currently outstanding options and their sale of shares in the offering, the shareholders will beneficially own about 22% of Taro. Barrie Levitt will continue to beneficially own all of Taro's outstanding founders' shares. The selling shareholders intend to use a majority of the net proceeds from their sale of shares in the offering to pay taxes incurred by reason of the exercise of their options. -Thomas Gryta; Dow Jones Newswires; 201-938-5400