Taro Pharmaceutical Industries history

Yet the political situation following the Suez War in 1956 severely restricted Taro's ability to procure its APIs.

In 1960, the company instituted a new chemical synthesis operation that enabled it to achieve a stronger degree of independence in its pharmaceutical formulations.

In preparation for this opening, Taro shifted its listing to the NASDAQ stock index in 1982.

The legislation, known as the Hatch-Waxman Act, was passed in 1984 and provided a framework for the production and marketing of off-patent drugs in the United States.

In 1988, however, the company founded a dedicated import and distribution subsidiary for its United States sales.

Expansion into the United States had cut into the company's profits, yet by 1991, with sales of more than $20 million, Taro posted a profit of $1.4 million.

To promote its international sales, the company established a new subsidiary, Taro International Ltd., in 1992.

In 1996, however, Taro achieved its first approval for an oral dosage drug, based on the anti-seizure medication carbamazepine, used to control epilepsy.

2000: The company launches Warfarin in Ireland.

By 2002, sales had topped $211 million--and soared past $315 million just one year later.

That expansion came in January 2003, when the company reached an agreement with Medicis to license four of its branded products, Topicort, A/T/S, Ovide, and Primsol, for sale in the United States and Puerto Rico.

In February 2009, the US Food and Drug Administration (FDA) released a warning letter to Taro Pharmaceuticals pointing out some issues relating to the company's manufacturing facility in Brampton, Ontario, Canada.

In 2010, Sun Pharmaceuticals of India acquired a majority stake in the company.

Over $1 Billion Gross Sales (IMS Calendar Year Sales 2012)