HAIFA BAY, Israel (AP) _ Taro Pharmaceutical Industries Ltd. (TARO) on Wednesday reported a fiscal first-quarter loss of $434.9 million, after reporting a profit in the same period a year earlier.
The Haifa Bay, Israel-based company said it had a loss of $11.37 per share. Earnings, adjusted for non-recurring costs, came to 76 cents per share.
The drug maker posted revenue of $117.6 million in the period.
Taro shares have dropped 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $67.99, a decrease of 17% in the last 12 months.