The Hindu Business Line : Flamingo Pharma enters West India

Ahmedabad, Aug. 14 The Mumbai-based Flamingo Pharmaceuticals Ltd, after two decades in global pharmaceutical markets, is now foraying into Gujarat and other parts of Western India, as part of its strategy to increase domestic revenue to about 15 per cent of the projected turnover of Rs 190 crore this financial year.

Announcing the launch of its operations in Western India, Mr Ashwin Thacker, Chairman-cum-Managing Director, told reporters that this region accounted for 22 per cent of the Indian pharmaceutical business.

The company launched a range of its products here, as part of its efforts to register an all-India presence by next month and increase its overall turnover to Rs 500 crore in the next five years. Gujarat accounts for almost Rs 300 crore of Indian pharma market.

Branded Formulations

Flamingo is targeting revenues of approximately Rs 15 crore by the year 2009, he said. The company, founded in 1985, manufactures and markets Flamingo-branded formulations in over 45 countries across five continents.

Flamingo has won 1,842 registrations, one of the highest for Indian companies, for its branded formulations across markets. It is the fastest growing pharma brand in Vietnam and has the highest number of registrations amongst all pharmaceutical companies in the Philippines, he added.

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