Kolkata, Nov 1 (UNI) Flamingo Pharmaceuticals Ltd today entered the east India market launching a comprehensive range of innovative and quality formulations covering anti-infectives, gastroenterologicals and orthocare.
Speaking on the occasion, Company Director K K Puri said '' Eastern India accounts for almost Rs 6,057 crores of the country's pharma market. We have already launched operations in southern, western and northern India and plan to create a pan India presence for our products by this month.'' Mr Puri said the launch in Eastern India was aimed at spearheading the company's plan to cross the target corporate turnover of Rs 500 crore in the next five years.
'' We are targeting a four fold increase through a two pronged strategy of entry into domestic market and leveraging the export opportunity in contract manufacturing,'' he said.
Mr Puri said Flamingo's target for the domestic market in the country was to reach approximately Rs 300 crore by 2011 and to be in the list of the 'Top 50' Indian Pharma companies.
'' Pharma exports from India are expected to surge ahead with a projected 30 per cent growth in the coming years and Flamingo's Export Division plans to reach over Rs 200 crore by 2011,'' he said adding the company also plans to enter into diabetic and cardio therapeutic areas.