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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 tHlDaNCxrrIrgKSavAPOkQ==

<SEC-DOCUMENT>0001225208-08-013190.txt : 20080806
<SEC-HEADER>0001225208-08-013190.hdr.sgml : 20080806
<ACCEPTANCE-DATETIME>20080806093327
ACCESSION NUMBER:		0001225208-08-013190
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080805
FILED AS OF DATE:		20080806
DATE AS OF CHANGE:		20080806

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TARO PHARMACEUTICAL INDUSTRIES LTD
		CENTRAL INDEX KEY:			0000906338
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		14 HAKTOR ST
		CITY:			HAIFA BAY
		STATE:			L3
		ZIP:			26110
		BUSINESS PHONE:		9143459001

	MAIL ADDRESS:	
		STREET 1:		THREE SKYLINE DR
		CITY:			HAWTHORNE
		STATE:			NY
		ZIP:			10532

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TARO VIT INDUSTRIES LTD /ISRAEL/
		DATE OF NAME CHANGE:	19930601

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN RESOURCES INC
		CENTRAL INDEX KEY:			0000038777
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22286
		FILM NUMBER:		08993465

	BUSINESS ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		STREET 2:		BUILDING 920
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403
		BUSINESS PHONE:		650-312-2000

	MAIL ADDRESS:	
		STREET 1:		FRANKLIN RESOURCES INC
		STREET 2:		ONE FRANKLIN PARKWAY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-08-05</periodOfReport>

    <issuer>
        <issuerCik>0000906338</issuerCik>
        <issuerName>TARO PHARMACEUTICAL INDUSTRIES LTD</issuerName>
        <issuerTradingSymbol>TAROF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000038777</rptOwnerCik>
            <rptOwnerName>FRANKLIN RESOURCES INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE FRANKLIN PARKWAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN MATEO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94403-1906</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>1</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares</value>
            </securityTitle>
            <transactionDate>
                <value>2008-08-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.75</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3986812</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">See Exhibit 99.1 for text of footnote, which text is incorporated by reference herein.</footnote>
    </footnotes>

    <remarks>taro991.TXT, taro992.TXT</remarks>

    <ownerSignature>
        <signatureName>Robert C. Rosselot, Assistant Secretary of Franklin Resources, Inc.</signatureName>
        <signatureDate>2008-08-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>taro991.txt
<TEXT>
Exhibit 99-1


The Ordinary Shares of Taro Pharmaceutical Industries Ltd. (as shown in Item 5
of the attached U.S. Securities and Exchange Commission ("SEC") Form 4,
Statement of Beneficial interest) (the "Securities") are beneficially owned by
one or more open- or closed-end investment companies or other managed accounts
that are investment management clients of Templeton Asset Management Ltd.
("TAML"). Investment management contracts grant to TAML all investment and/or
voting power over the securities owned by such clients, except as otherwise
disclosed below. Therefore, for purposes of Rule 13d-3 under the Securities
Exchange Act of 1934 (the "Act"), TAML may be deemed to be the beneficial owner
of the Securities.

Beneficial ownership by TAML is being reported in conformity with the guidelines
  articulated by the SEC staff in Release No. 34-39538 (January 12, 1998)
relating to organizations, such as Franklin Resources, Inc. ("FRI"), where
related entities exercise voting and investment powers over the securities being
  reported independently from each other. The voting and investment powers held
by Franklin Mutual Advisers, LLC ("FMA"), an indirect wholly-owned investment
management subsidiary of FRI, are exercised independently from FRI and from all
other investment management subsidiaries of FRI (FRI, its affiliates and the
investment management subsidiaries other than FMA are, collectively, "FRI
affiliates"). Furthermore, internal policies and procedures of FMA and FRI
establish informational barriers that prevent the flow between FMA and the FRI
affiliates of information that relates to the voting and investment powers over
the securities owned by their respective investment management clients.
Consequently, FMA and the FRI affiliates report the securities over which they
hold investment and voting power separately from each other for purposes of
Section 13 of the Act.

Charles B. Johnson and Rupert H. Johnson, Jr. (the "Principal Shareholders")
each own in excess of 10% of the outstanding common stock of FRI and are the
principal stockholders of FRI. FRI and the Principal Shareholders may be deemed
to be, for purposes of Rule 13d-3 under the Act, the beneficial owners of
securities held by persons and entities for whom or for which FRI subsidiaries
provide investment management services. FRI, the Principal Shareholders and TAML
  disclaim any pecuniary interest in any of the Securities.

FRI, the Principal Shareholders, and TAML believe that they are not a "group"
within the meaning of Rule 13d-5 under the Act and that they are not otherwise
required to attribute to each other the beneficial ownership of the Securities
held by any of them or by any persons or entities for whom or for which FRI
subsidiaries provide investment management services.


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>taro992.txt
<TEXT>
	Exhibit 99-2


Names and Addresses of Additional Reporting Persons:

Charles B. Johnson
Franklin Templeton Investments
100 Franklin Parkway
San Mateo, CA 94403-1906

Robert C. Rosselot, Attorney-in-Fact for Charles B. Johnson pursuant to a
Limited Power of Attorney dated April 30, 2007.

Rupert H. Johnson, Jr.
Franklin Templeton Investments
100 Franklin Parkway
San Mateo, CA 94403-1906

Robert C. Rosselot, Attorney-in-Fact for Rupert H. Johnson pursuant to a Limited
  Power of Attorney dated April 25, 2007.

Templeton Asset Management Ltd.
7 Temasek Boulevard
#38-03 Suntec Tower One
Singapore 038987

Robert C. Rosselot, Attorney-in-Fact for Gregory E. McGowan, Director of
Templeton Asset Management Ltd. dated January 17, 2008.


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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