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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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  "notes": "The chart highlights a period of multiple uplift attributed to stock price appreciation ahead of product pricing increases.",
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      "kind": "callout",
      "text": "Multiple uplift driven by stock price appreciation ahead of Taro product pricing increases being reflected in LTM EBITDA",
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      "text": "LTM EV / EBITDA Multiples between 9/21/2010 and 10/17/2011",
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      "text": "Source: FactSet. Note: Taro market value calculated using average diluted shares throughout the respective quarter. (1) Date range based upon period from Sun Pharma's acquisition of its majority stake in Taro through to the day prior to Sun Pharma's offer of $24.50 per share for the shares it does not already hold.",
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      "text": "LTM EBITDA Multiple Statistics: Min 5.3x, Median 6.0, Mean 6.1, Max 7.6",
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      "text": "Historical Taro LTM EBITDA Multiples",
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