Aurobindo Pharma Purchases US Manufacturing Facility

by Medindia Content Team on  July 8, 2006 at 12:09 PM Drug News
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Aurobindo Pharma Purchases US Manufacturing Facility
The Hyderabad-based Aurobindo Pharma Ltd today said it has acquired a USFDA compliant manufacturing facility in Dayton, New Jersey.

The facility, spread over 20 acres of freehold land, will serve as the company's US head quarters, it informed the stock exchanges.

"This purchase reinforces Aurobindo's commitment to serve US market in an effective manner," Ramprasad Reddy, Chairman of the company, said.

The campus comprises 100,000 square feet of fully integrated state of the art R&D, formulation manufacturing and distribution facilities with potential for future expansion, it said.

The company is located in the heart of Princeton Life Sciences Corridor in the state of New Jersey.

The Company has recently concluded zero per cent, foreign currency convertible bonds issue USD 200 million (Rs 900 crore). Part of the proceeds will be used for the purchase, it added.

The shares of the company closed at Rs 577.70, down 2.18 percent on the BSE.

Source:PTI News

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