Sun Pharmaceutical Industries has received the US Federal Trade Commission (FTC) clearance for early termination of the antitrust waiting period under the Hart-Scott-Rodino Act (HSR) for the previously announced Tender Offer by Alkaloida Chemical Company Exclusive Group Ltd (Alkaloida), a subsidiary of Sun Pharma, for all outstanding ordinary shares of Taro Pharmaceutical Industries (Taro). 

Clearance under HSR meets one of the conditions to the tender offer. The offer is scheduled to expire on September 2, 2008 unless extended.

The offer was commenced on June 30, 2008 in order to comply with the terms of the Option Agreement between Alkoloida and the controlling shareholders of Taro. The complete terms and conditions are set out in the Offer to Purchase, which is filed with the US Securities and Exchange Commission. Greenhill & Co, LLC is acting as the Dealer manager and MacKenzie is acting as the information Agent for the tender offer.