Flamingo Pharmaceuticals Ltd has bagged the order from Israel-based Teva Group to manufacture Zolpidem tartrate tablets for Netherlands market.
Flamingo is currently working on 12 CRAMS projects for global pharma majors and would be starting operations on 10 new projects by the end of 2007. Flamingo's CRAM business currently contributes about Rs. 60 crore to its Rs. 160 crore turnover. Zolpidem is the 6th product manufactured by the company for the Teva Group.
The company has received the initial order to manufacture 10 million 10mg tablets and would be shipping the first batch of Zolpidem by October 2007. Apart from Zolpidem, Flamingo is also currently manufacturing Verapamil, Zopiclone, Simvastatin, Dipyridamol and Tramadol for Teva.
"Zolpidem tartrate tablets are used for the short-term treatment of insomnia and related disorders and have total annual market sales of $12 Bn worldwide. Through our association with Teva, we hope to capture substantial share for this product in the European markets," stated Ashwin Thacker, managing director, Flamingo Pharmaceuticals.
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.
In semi-regulated markets, it has won a staggering 1842 registrations, one of the highest for Indian companies, for Flamingo branded formulations across markets including Philippines, Vietnam, Sri Lanka, Kenya, Costa Rica, Haiti, Uganda, Hong Kong, and many more. Flamingo also exports to Europe, Central & South America, Africa and the Gulf and 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 and it manufactures for some of the world's top-most generic companies and leading OTC brands.
Flamingo has set up two manufacturing units conforming to world-class quality standards. First one is set up at Rabale (on the outskirts of Mumbai) and second is located at Taloja (in Raigad district in Maharashtra). Both the facilities are WHO-GMP accredited. In 2005, the Taloja facility set up specifically for the regulated markets has received the prestigious UK MHRA (Medicines and Healthcare Products Regulatory Agency) approval and was also awarded the IDMA Quality Excellence Award. Both of Flamingo's facilities received the prestigious EOU Certification in 2006. 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.