Taro to repurchase up to 5.3% of outstanding stock for $200 million

HAWTHORNE, N.Y. — Taro Pharmaceutical Industries plans to repurchase up to $200 million of its own shares, the Israeli generic drug maker said.

Taro announced a tender offer to repurchase the shares for between $84.50 and $97.50 each, with the total amount representing 4.6% to 5.3% of its outstanding shares.

The offer expires on Dec. 23, the company said.