CHENNAI: Flamingo Pharmaceuticals Limited, a two decade old company promoted by Ashwin Thacker, Chairman and Managing Director and his associates, is entering the South Indian market.
This Rs. 125 crore company, a preferred manufacturer of formulations for leading pharmaceutical companies, has two units in Mumbai. Launching a range of formulations covering anti infectives, gastroenterologicals and orthocare, K. K. Puri, director of the company, said the company had already launched its operations in the eastern, western and northern India and plans to create a pan India presence. With widening presence in the entire domestic market and more focus in the export market, the company is aiming to achieve a turnover of about Rs. 500 crore in the next five years.
The company targets to have over 100 distributors and wholesalers to cover the north Indian market.
Flamingo also plans to open new division that will cover the diabetic and cardio therapeutic areas.
The company also exports to Europe, Central and South America and the Gulf. In the regulated markets such as the U.K., Europe, Australia and New Zealand, the company is focussing on the rapidly growing contract manufacturing opportunity.