Israel's Taro Outline Plans, 3rd Qtr Results

Taro Pharmaceutical of Israel says it intends to export certain of its generic over-the-counter pharmaceutical products to the USA and Canada, where it has similarly-named subsidiaries. The products will be made at Taro's Haifa manufacturing facilities.

Earlier, Taro announced that Taro Pharmaceutical USA Inc has entered into an agreement with Schering-Plough Health-Care Products, the OTC arm of Schering-Plough, providing for the joint development and marketing in the USA and Canada of topical medicinal products. Taro's chairman, Barrie Levitt, noted that "the combination of S-P's successes in the development and marketing of OTC topical pharmaceutical products and Taro's demonstrated expertise in both formulating and performing clinical studies is expected to result in the introduction in North America, over time, of new OTC topical products."

Sales And Income Rising Meantime, Taro reports that third-quarter 1994 sales increased 55% to $9.9 million and net income showed a $740,000 profit, compared with a net loss of $125,000 for the like, year-earlier period.