Taro posts 13.2% annual gain to $759.3 million

HAWTHORNE, N.Y. — Taro Pharmaceutical Industries posted a net sales increase of 13.2% to $759.3 million for its fiscal year ended March 31. Research and development expenses increased 19.2% to $55.4 million or 7.3% of net sales.

The Company recently received approval from the Food and Drug Administration for an abbreviated new drug application for phenytoin chewable tablets USP, 50 mg. During the quarter, the company filed three aNDAs with the FDA. 

With this, aNDAs representing 27 products await FDA approval, of which one is tentatively approved.