UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2006
Commission File Number 000-22286
Taro Pharmaceutical Industries Ltd.
(Translation of registrant's name into English)
14 Hakitor Street, Haifa Bay 26110, Israel
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F |X| Form 40-F |_|
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): _____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): _____
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes |_| No |X|
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-_____.
Taro Receives Notice of Allowance
for U.S. Patent for Treatment of Essential Tremor
Patent Covers the Company's Proprietary Non-Sedating Barbiturate Compounds
HAWTHORNE, N.Y.--(BUSINESS WIRE)--Oct. 18, 2006--Taro
Pharmaceutical Industries Ltd. ("Taro," the "Company," NASDAQ: TARO)
announced that it has received a notice of allowance from the U.S.
Patent and Trademark Office for its patent application on the use of
the Company's proprietary, non-sedating barbiturate compounds in the
treatment of essential tremor and Parkinson's disease. The patent will
expire in June 2025. It is estimated that more than six million
Americans suffer from these two conditions.
Clinical Trials
T2000 (1,3-dimethoxymethyl-5,5-diphenyl-barbituric acid) is the
first of Taro's proprietary non-sedating barbiturate compounds to
undergo clinical testing. As previously announced, T2000 is currently
being studied for the treatment of moderate to severe essential tremor
in a multi-center, randomized, double-blind, placebo-controlled trial
in Canada. Details of this Phase II study are available at the
www.clinicaltrials.gov website maintained by the U.S. National
Institutes of Health.
A paper presenting the results of two previous small, randomized,
double-blind, placebo-controlled trials of T2000 in the treatment of
essential tremor has been accepted for publication in the journal
Movement Disorders and is expected to be available in early 2007. In
addition, several presentations concerning pre-clinical work and Phase
I clinical studies on T2000 will be delivered this month at the annual
meeting of the American Association of Pharmaceutical Scientists in
San Antonio, Texas.
There can be no assurance of the success of Taro's clinical trials
in Canada, nor that the FDA or any foreign equivalent will approve any
product, nor that any approved product will be commercially
successful.
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 release are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995, including statements regarding the Company's proprietary,
non-sedating barbiturate compounds. Although Taro Pharmaceutical
Industries Ltd. believes the expectations reflected in such
forward-looking statements to be based on reasonable assumptions, it
can give no assurance that its expectations will be attained. Factors
that could cause actual results to differ include industry and market
conditions; results of any studies; granting of the patent for which
Taro has received a notice of allowance; approval by the FDA or its
foreign equivalent of a product based on any of the Company's
proprietary compounds; physician, pharmacist and consumer acceptance
of such a product; changes in the Company's financial position;
regulatory actions; and, other risks detailed from time to time in the
Company's SEC reports, including its Annual Reports on Form 20-F.
Forward-looking statements speak only as of the date on which they are
made. The Company undertakes no obligation to update, change or revise
any forward-looking statements, whether as a result of new
information, additional or subsequent developments or otherwise.
CONTACT: Taro Pharmaceutical Industries Ltd.
Daniel Saks, Vice President, Corporate Affairs
914-345-9000 ext. 6208
or
Kevin Connelly, Chief Financial Officer
914-345-9000 ext. 6338
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: October 18, 2006
TARO PHARMACEUTICAL INDUSTRIES LTD.
By: /s/ Kevin Connelly
------------------
Name: Kevin Connelly
Title: Senior Vice President and
Chief Financial Officer