Flamingo aims to achieve Rs 500 cr turnover in next 5 years

New Delhi, Sep 27 (UNI) Flamingo Pharmaceuticals Ltd today said it aims to achieve a turnover of Rs 500 crore in the next five years.

The company has also set a target of Rs 300 crore turnover from operations in the domestic market and plans to reach around Rs 200 crore through export by 2011.

''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 around Rs 200 crore by 2011,'' company said in a statement.

To achieve this target, the company plans to invest Rs 100 crore for doubling its capacity.

This will increase its production capacity to six billion units per annum from the existing three billion units per annum.

Flamingo Pharmaceuticals has also launched across the country a comprehensive, gastroenterologicals and orthocare, the statement said.

The company is also looking to complete their pan-India presence by introducing their product range in East India by early October.

With the increased capacity, Flamingo aims to cater to the increased demand from its existing contract manufacturing customers in the UK and European markets, the statement said.

UNI