The facility is spread over 20 acres of freehold land and is located in Princeton Life Sciences Corridor in the state of New Jersey. The campus comprises one lakh square feet of fully integrated R&D, formulation manufacturing and distribution facilities with potential for future expansion. This facility will serve as Aurobindo's US headquarters, a press release said.
PV Ramaprasad Reddy, chairman of Aurobindo said that this purchase reinforced Aurobindo's commitment to serve the US market in an effective manner. Aurobindo had recently concluded zero per cent, foreign currency convertible bonds issue of $200 million. A part of the proceeds will be used for the purchase. For the year ended 2005-06, Aurobindo registered total income of Rs 1502.6 crore and a net profit of Rs 69.4 crore on a standalone basis.
