\nTaro Pharmaceutical Industries Ltd. (NYSE: TARO) (\u201cTaro\u201d or the \u201cCompany\u201d) today provided unaudited financial results for the quarter and six months ended September 30, 2022.\n<\/p>\n
Quarter ended September 30, 2022* Highlights \u2500 compared to September 30, 2021<\/b><\/p>\n Six Months ended September 30, 2022* Highlights \u2500 compared to September 30, 2021<\/b><\/p>\n Cash Flow and Balance Sheet Highlights<\/b><\/p>\n * The September 30, 2022 results include six months\u2019 results from the February 28th<\/sup> acquisition of Alchemee.<\/b><\/p>\n FDA Approvals and Filings<\/span><\/b><\/p>\n \nThe Company currently has a total of nineteen ANDAs awaiting FDA approval, including three tentative approvals.\n<\/p>\n \nThe Company cautions that the foregoing 2022 financial information (including Alchemee) is unaudited and is subject to change.\n<\/p>\n ************************<\/b><\/p>\n About Taro SAFE HARBOR STATEMENT Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements that do not describe historical facts or that refer or relate to events or circumstances the Company \u201cestimates,\u201d \u201cbelieves,\u201d or \u201cexpects\u201d to happen or similar language, and statements with respect to the Company\u2019s financial performance, availability of financial information, and estimates of financial results and information for fiscal year 2023. Although the Company believes the expectations reflected in such forward-looking statements to be based on reasonable assumptions, it can give no assurances that its expectations will be attained. Factors that could cause actual results to differ include general domestic and international economic conditions, industry and market conditions, changes in the Company’s financial position, litigation brought by any party in any court in Israel, the United States, or any country in which Taro operates, regulatory and legislative actions in the countries in which Taro operates, and other risks detailed from time to time in the Company\u2019s SEC reports, including its Annual Reports on Form 20-F. Forward-looking statements are applicable only as of the date on which they are made. The Company undertakes no obligations to update, change or revise any forward-looking statement, whether as a result of new information, additional or subsequent developments or otherwise.<\/i><\/p>\n **Financial Tables Follow**<\/i><\/b><\/p>\n \n\u00a0\n<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 130,498<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 131,986<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 287,163<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 279,099<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n83,536\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n69,941\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n158,595\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n139,356\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 46,962<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 62,045<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 128,568<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 139,743<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,522\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12,495\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23,030\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n25,448\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n42,255\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23,684\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n98,377\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n47,660\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,420\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n61,420\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n (6,815<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 24,446<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 7,161<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 5,215<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(4,296\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,371\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(6,222\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(5,413\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,788\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(264\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,082\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n395\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,340\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n839\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,724\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(4,913\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29,421\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,140\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13,341\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,100\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,104\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(126\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8,792\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n (2,813<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 23,317<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 11,266<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 4,549<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n(0.07\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.62\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.30\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n0.12\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n37,584,891\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n37,600,580\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n37,584,891\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n37,696,975\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Note: <\/i>Quarter and six months ended September 30, 2022 includes results from Alchemee (acquired February 28, 2022).\n<\/p>\n * Excluding the settlement and loss contingencies charges of $1.4 million for the quarter ended September 30, 2021, Operating income was $25.9 million, Net income attributable to Taro was $24.7 million, and basic and diluted earnings per share was $0.66.<\/i><\/p>\n Excluding the settlement and loss contingencies charges of $61.4 million for the six months ended September 30, 2021, Operating income was $66.6 million, Net income attributable to Taro was $66.0 million, and basic and diluted earnings per share was $1.75.<\/i><\/p>\n September 30,<\/b><\/p>\n<\/td>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n 2022<\/b><\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n175,191\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n251,134\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n95,630\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n47,586\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n568,671\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n522,028\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n248,495\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n246,972\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n53,097\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n59,727\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n215,524\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n210,439\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 1,356,608<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,337,886<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n357,586\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n435,189\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n191,489\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n199,692\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n124,167\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n124,882\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n12,718\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,820\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n64,711\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n66,893\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 2,107,279<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 2,176,362<\/b><\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n61,356\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n68,232\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n313,495\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n363,886\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 374,851<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 432,118<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n26,148\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n32,799\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n 400,999<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 464,917<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,706,280\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,711,445\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 2,107,279<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 2,176,362<\/b><\/p>\n<\/td>\n<\/tr>\n Note:<\/i> September 30, 2022, includes the Balance Sheet of Alchemee (acquired February 28, 2022).\n<\/p>\n \n\u00a0\n<\/p>\n \n\u00a0\n<\/p>\n<\/td>\n 2022<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(unaudited)\n<\/p>\n<\/td>\n \n\u00a0(unaudited)\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 11,266<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 4,549<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n13,994\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12,795\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n551\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(24\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(314\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,358\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n404\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,245\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16,927\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,071\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n16,868\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(5,316\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,636\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,739\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,472\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(71,798\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(59,982\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,940\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,287\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n (37,667<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (8,023<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(3,443\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(5,831\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(68\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(107\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(48,044\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(35,573\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n15,516\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(6,442\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n (36,039<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (47,953<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(24,934\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \u2014<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (24,934<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,237\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(599\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(75,943\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(81,509\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n251,134\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n605,177\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 175,191<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 523,668<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n3,091\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n4,532\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n14,156\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n2,351\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n3,206\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n702\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n6,199\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n630\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n Note:<\/i> September 30, 2022, includes the Balance Sheet of Alchemee (acquired February 28, 2022).\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20221027006161\/en\/<\/a><\/span><\/p>\n\n
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<\/b>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 on Taro Pharmaceutical Industries Ltd., please visit the Company\u2019s website at www.taro.com<\/a>.\n<\/p>\n
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<\/b>The unaudited consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments necessary to present fairly the financial condition and results of operations of the Company. The unaudited consolidated financial statements should be read in conjunction with the Company\u2019s audited consolidated financial statements included in the Company\u2019s Annual Report on Form 20-F, as filed with the SEC.<\/i><\/p>\n\n
\n TARO PHARMACEUTICAL INDUSTRIES LTD.<\/b><\/td>\n<\/tr>\n \n SUMMARY CONSOLIDATED STATEMENTS OF OPERATIONS<\/b><\/td>\n<\/tr>\n \n (Unaudited)<\/td>\n<\/tr>\n \n (U.S. dollars in thousands, except share data)<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n Quarter Ended<\/b><\/td>\n \n Six Months Ended<\/b><\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n September 30,<\/b><\/td>\n \n September 30,<\/b><\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Sales, net<\/b><\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cost of sales<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gross profit<\/b><\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Operating Expenses:<\/i><\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n <\/tr>\n \n Research and development<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Selling, marketing, general and administrative<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Settlements and loss contingencies<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating (loss) income *<\/b><\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Financial (income) expense, net:<\/i><\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n <\/tr>\n \n Interest and other financial income<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Foreign exchange (income) expense<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other gain, net<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income (loss) before income taxes<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Tax (benefit) expense<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net (loss) income attributable to Taro *<\/b><\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net (loss) income per ordinary share attributable to Taro:<\/b><\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n <\/tr>\n \n Basic and Diluted *<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Weighted-average number of shares used to compute net (loss) income per share:<\/b><\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n <\/tr>\n \n Basic and Diluted<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n May not foot due to rounding.<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n <\/tr>\n<\/table>\n \n
\n TARO PHARMACEUTICAL INDUSTRIES LTD.<\/b><\/td>\n<\/tr>\n \n SUMMARY CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n<\/tr>\n \n (U.S. dollars in thousands)<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n ASSETS<\/b><\/td>\n \n (unaudited)<\/td>\n \n (audited)<\/td>\n<\/tr>\n \n CURRENT ASSETS:<\/td>\n \n \n \n <\/tr>\n \n Cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n Short-term bank deposits<\/td>\n \n \n \n \n \n \n \n Marketable securities<\/td>\n \n \n \n \n \n \n \n Accounts receivable and other:<\/td>\n \n \n \n <\/tr>\n \n Trade, net<\/td>\n \n \n \n \n \n \n \n Other receivables and prepaid expenses<\/td>\n \n \n \n \n \n \n \n Inventories<\/td>\n \n \n \n \n \n \n \n TOTAL CURRENT ASSETS<\/b><\/td>\n \n \n \n \n \n \n \n Marketable securities<\/td>\n \n \n \n \n \n \n \n Property, plant and equipment, net<\/td>\n \n \n \n \n \n \n \n Deferred income taxes<\/td>\n \n \n \n \n \n \n \n Goodwill<\/td>\n \n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n \n TOTAL ASSETS<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES AND SHAREHOLDERS’ EQUITY<\/b><\/td>\n \n \n \n <\/tr>\n \n CURRENT LIABILITIES:<\/td>\n \n \n \n <\/tr>\n \n Trade payables<\/td>\n \n \n \n \n \n \n \n Other current liabilities<\/td>\n \n \n \n \n \n \n \n TOTAL CURRENT LIABILITIES<\/b><\/td>\n \n \n \n \n \n \n \n Deferred taxes and other long-term liabilities<\/td>\n \n \n \n \n \n \n \n TOTAL LIABILITIES<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Taro shareholders’ equity<\/td>\n \n \n \n \n \n \n \n TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n TARO PHARMACEUTICAL INDUSTRIES LTD.<\/b><\/td>\n<\/tr>\n \n SUMMARY CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/td>\n<\/tr>\n \n (U.S. dollars in thousands)<\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Six Months Ended September 30,<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cash flows from operating activities:<\/b><\/td>\n \n \n \n <\/tr>\n \n Net income (loss)<\/b><\/td>\n \n \n \n \n \n \n \n \n \n Adjustments required to reconcile net income (loss) to net cash used in operating activities:<\/i><\/b><\/td>\n \n \n \n <\/tr>\n \n Depreciation and amortization<\/td>\n \n \n \n \n \n \n \n \n \n Realized loss on sale of long-lived assets<\/td>\n \n \n \n \n \n \n \n \n \n Change in derivative instruments, net<\/td>\n \n \n \n \n \n \n \n \n \n Effect of change in exchange rate on marketable securities and bank deposits<\/td>\n \n \n \n \n \n \n \n \n \n Deferred income taxes, net<\/td>\n \n \n \n \n \n \n \n \n \n Increase (decrease) in trade receivables, net<\/td>\n \n \n \n \n \n \n \n \n \n Increase in inventories, net<\/td>\n \n \n \n \n \n \n \n \n \n Decrease (increase) in other receivables, income tax receivables, prepaid expenses and other<\/td>\n \n \n \n \n \n \n \n \n Decrease in trade, income tax, accrued expenses and other payables<\/td>\n \n \n \n \n \n \n \n \n \n Expense from amortization of marketable securities bonds, net<\/td>\n \n \n \n \n \n \n \n \n \n Net cash used in operating activities<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cash flows from investing activities:<\/b><\/td>\n \n \n \n <\/tr>\n \n Purchase of plant, property & equipment, net<\/td>\n \n \n \n \n \n \n \n \n \n Investment in other intangible assets<\/td>\n \n \n \n \n \n \n \n \n \n Investment in short-term bank deposits, net<\/td>\n \n \n \n \n \n \n \n \n \n Proceeds from (investment in) marketable securities, net<\/td>\n \n \n \n \n \n \n \n \n \n Net cash used in investing activities<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cash flows from financing activities:<\/b><\/td>\n \n \n \n <\/tr>\n \n Purchase of treasury stock<\/td>\n \n \n \n \n \n \n \n \n \n Net cash used in financing activities<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Effect of exchange rate changes on cash and cash equivalents<\/b><\/td>\n \n \n \n \n \n \n \n \n \n Decrease in cash and cash equivalents<\/b><\/td>\n \n \n \n \n \n \n \n \n \n Cash and cash equivalents at beginning of period<\/b><\/td>\n \n \n \n \n \n \n \n \n \n Cash and cash equivalents at end of period<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cash Paid during the year for:<\/b><\/td>\n \n \n \n <\/tr>\n \n Income taxes<\/td>\n \n \n \n \n \n \n \n \n \n Cash Received during the year for:<\/b><\/td>\n \n \n \n <\/tr>\n \n Income taxes<\/td>\n \n \n \n \n \n \n \n \n \n Non-cash investing transactions:<\/b><\/td>\n \n \n \n <\/tr>\n \n Purchase of property, plant and equipment included in accounts payable<\/td>\n \n \n \n \n \n \n \n \n \n Non-cash financing transactions:<\/b><\/td>\n \n \n \n <\/tr>\n \n Purchase of marketable securities, net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n <\/p>\n