Flamingo plans to invest Rs 100 cr for doubling capacity

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New Delhi, Sep 27 (UNI) Flamingo Pharmaceuticals Ltd today said it plans to double its capacity at an investment of Rs 100 crore to establish strong presence in domestic market and leverage the export opportunity.

''We have been successfully operating in global markets and now with the foray in India's domestic market, we feel the strong need to expand our capacities to match up with the demand pull,''company's Managing Director Ashwin Thacker said.

The company aims to increase its production capacity to six billion units per annum from the existing three billion units per annum.

The expansion will be aimed at increasing the capacities of the existing product range and it also plans to enter into diabetic and cardio therapeutic areas.

The company is also looking to complete its pan India presence by introducing their product range in East India by early next month.

Flamingo has set up two manufacturing units--one at Rabale on the outskirts of Mumbai and second at Taloja in Raigad district in Maharashtra.

UNI

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