Taro Pharmaceutical Industries Ltd. purchased $25.5 million of ordinary shares in its tender offer to buy back up to $225 million of the shares.

The Israel-based pharmaceutical company bought 280,719 shares at $91 apiece.

The shares represent 0.73% of the company's issued and outstanding shares as of the offer's close on Dec. 16.

American Stock Transfer & Trust Co. LLC, as the depositary, will immediately pay for the shares accepted for purchase and return the rest.

J.P. Morgan Securities LLC acted as the dealer manager for the tender offer, while MacKenzie Partners Inc. acted as the information agent.