Taro Announces Resignation of Chief Financial Officer

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.

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