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  "documentTitle": "10 IBD presentation 2012 Taro Pharmaceutical Industries Citigroup",
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  "presentationDate": "2012-01-01 00:00:00",
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  "function": "compare_peers",
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  "nDataPoints": 28,
  "notes": "Taro is highlighted in blue in each chart, while peers are in grey. Medians are indicated by red dashed lines.",
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      "kind": "chart",
      "text": "2012E SG&A % of net Sales",
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      "kind": "chart",
      "text": "2012E COGS % of net Sales",
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      "kind": "chart",
      "text": "2012E R&D % of net Sales",
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      "text": "2012E EBITDA Margin",
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      "text": "Sources: Taro financial projections as per management's 5-year forecast. FactSet, Wall Street Research. (1) Median excludes Taro.",
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      "text": "Taro's highly attractive COGS margin is driven by (1) the benefit from price increases over the past year as well as (2) historically more attractive COGS margins within the derm segment. This outsized differential leads to EBITDA margins on the high side of generic peers.",
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