Flamingo enters Gujarat market

Ahmedabad, Aug 14 (UNI) Flamingo Pharmaceuticals entered the Gujarat market today by launching a comprehensive range of formulations covering analgesics, antibiotics, anti-infectives, gastroenterologicals and orthocare.

''Gujarat accounts for almost Rs 300 crore of India's pharma market,'' Flamingo managing director Ashwin Thacker pointed out at a press conference here today. With today's launch, the company aims to touch a turnover of Rs 500 crore in the next five years, he added.

Flamingo has already launched operations in south, north and in parts of eastern India, and plans to create a pan-India presence by September, Mr Thacker said.

In Gujarat, Flamingo is targeting a revenue of Rs 15 crore by 2009 and a market share of 1.25 per cent on an annual basis. The company targets to have over 50 distributors and wholesalers to cover the West Indian market, Mr Thacker said.

Flamingo has set up two manufacturing units conforming to world-class quality standards -- one at Rabale (on the outskirts of Mumbai) and second at Taloja in Raigad district of Maharashtra.

UNI