Taro sees sales, profits spike in Q2

HAWTHORNE, N.Y. — Israeli generic drug maker Taro Pharmaceutical Industries got a big boost in sales and profits during second quarter 2011, according to a financial report released Tuesday.

Taro reported sales of $111.6 million, a 14.2% increase, compared with second quarter 2010. In addition, profits were $35.7 million, a $19.3 million increase over the same period last year.

“These results reflect our continuing efforts to improve our business model and processes as we pursue operating efficiencies, cost efficiencies and speed-to-market of quality products,” Taro interim CEO Jim Kedrowski said. “We are focused on the successful execution of these important strategic and business development opportunities in order to remain well-positioned for future growth.”