Taro faces possible Nasdaq delisting

By Elaine Rigoli

Tampa, Fla., July 21 - Taro Pharmaceutical Industries Ltd. said it faces a possible Nasdaq delisting after it received a staff determination from the listing qualifications department.

The Nasdaq said that because it has not received the company's annual report on form 20-F for the year ended Dec. 31, 2005, Taro's ordinary shares are subject to delisting from the Nasdaq Global Select Market unless the company requests a hearing.

Taro said it has requested a hearing before a listing qualifications panel to review the staff determination.

Taro's ordinary shares will remain listed pending the review.

Taro is a science-based pharmaceutical company with offices in Israel and Hawthorne, N.Y.

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