Flamingo Pharmaceuticals Ltd, a quality-driven Indian pharmaceutical company with an experience of over two decades in global pharmaceutical markets, has forayed into the Gujarat pharmaceutical market by launching a comprehensive range of innovative and quality formulations, including analgesics, anti-biotics, anti-infectives, gastroenterologicals and orthocare in Ahmedabad and other cities of Gujarat.
"Gujarat accounts for almost Rs 300 crore of the India's pharma market. We have already launched operations in Southern India, Northern India and parts of Eastern India. Also, the company plans to create a pan India presence for our products by September 2007. The launch in Gujarat is aimed at spearheading our company plan to cross the target corporate (Domestic + International) 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," said Ashwin Thacker, MD, Flamingo Pharma.
In Gujarat, Flamingo is targeting revenues of approximately Rs 15 crore by the year 2009 and a market share of 1.25 per cent on an annual basis. Flamingo plans to tap the retail market through a network of distributors along with a strong team of field staff numbering around 30 representatives. Apart, the company targets to have over 50 distributors and wholesalers to cover the West Indian market.
"Over the past 20 years, Flamingo has built a reputation for quality products in the global markets. We are happy to launch products that have successfully been used across the world in India, especially Gujarat. As anti-infectives, gastroenterological, orthocare, anti-allergics and nutritional products constitute over 72 per cent of the Indian pharma market, the high-quality and affordable range of formulations from Flamingo is our contribution to make healthcare more accessible," Thacker added.
Flamingo is the preferred manufacturer of formulations for some of world's front ranking pharmaceutical companies with a presence in over 45 countries across five continents. Inspired by the vision to be a reputed global player by meeting world-class quality standards, Flamingo has built an enviable track record of successes in semi-regulated and regulated markets, a company press release noted.
In semi-regulated markets, the company has won a staggering 1842 registrations, one of the highest for Indian companies. Flamingo has registered its branded formulations across markets including Philippines, Vietnam, Sri Lanka, Kenya, Costa Rica, Haiti, Uganda and Hong Kong. Flamingo also exports to Europe, Central and South America, Africa and Gulf. Apart, the company supplies to global institutions like International Red Cross Society, World Health Organisation (WHO) and World Bank aided projects.
In the regulated markets such as UK, Europe, Australia and New Zealand, Flamingo's focus is on the rapidly growing contract manufacturing opportunity. The company manufactures for some of the world's top-most generic companies and leading OTC brands.
Flamingo has set up two manufacturing units, at Rabale and Taloja, conforming to world-class quality standards. Both the facilities are WHO-GMP accredited. Its facility at Taloja has received the prestigious UK MHRA approval and was also awarded the IDMA Quality Excellence Award. Flamingo has also set up a world class R&D centre for research to develop formulations designed to increase efficiency and to provide formulations bio-equivalent to innovator.