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Taro Announces Resignation of Chief Financial Officer

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HAWTHORNE, N.Y.--(BUSINESS WIRE)--

Taro Pharmaceutical Industries Ltd. (NYSE: TARO) ("Taro" or the "Company") announced today that it has accepted the resignation of its Chief Financial Officer, Michael Kalb, effective June 29, 2016. Mr. Kalb is leaving to accept the position of CFO at another public company.

Mr. Kalb's resignation is not the result of any dispute or disagreement with the Company including any matters relating to the Company's accounting practices or financial reporting.

Mr. Sundaram, Taro's CEO, stated, "On behalf of the Company, we want to thank Mike for his many contributions to the Company during his seven year tenure at Taro, including his leadership of Taro's finance team and our listing on the New York Stock Exchange. We wish him continued success in his new position."

The company has initiated an external search for a full time successor as CFO.

About 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. For further information on Taro Pharmaceutical Industries Ltd., please visit the Company's website at www.taro.com.

SAFE HARBOR STATEMENT

Certain statements in this press 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 and statements that refer or relate to events or circumstances Taro "estimates," "believes," or "expects" to happen or similar language. The forward-looking statements in this press release are based on Taro's current expectations and are made only as of the date of this press release and involve certain risks and uncertainties that could cause actual results to differ materially from future results that may be expressed or implied by such forward-looking statements. Unless required by law, Taro 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.

Taro Pharmaceutical Industries Ltd.
William J. Coote, 914-345-9001
William.Coote@taro.com

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