Micro Vision, the dermatology and ophthalmology division of Karnataka's leading pharma company Micro Labs launched Glyco-A, a product for hyper pigmentation yesterday. The product, which contains glycolic acid 12 %, is a first-of-its-kind home peel to be available in India.
Apart from this, the company is poised to introduce two more new prescription products -- Unitone and Secalia -- in the derma sector. Unitone is a topical beta-carotene, while Secalia is a glycerin-based moisturizer for dry skin.
Among dermatology products Micro Vision is known for its anti-acne, steroids, melasma and antiviral although it has formulations in antibiotics, anti-fungal and anti-histamines. Plans are underway to go in for a New Drug Delivery System [NDDS] for anti-virals for which the company has invested 10 crore.
Glyco-A is developed as in technical collaboration with ISIS, France a prominent global player in cosmeceuticals and the product will be available in a unique plastic collapsible tube. ISIS has transferred the technology of the molecule preparation to Micro Labs. Shortly the company will be the manufacturing hub for ISIS, France in Glyco -A to meet its demand in the international market.
The company is confident of chalking sales to the tune of Rs. 2 crore in the next 12 months for Glyco-A.
S Rajagopalan, general manager, marketing & sales, Micro Vision said that Glyco-A was considered for the Indian market as a prescription drug on account of the high incidence hyper pigmentation in the country. Glycolic acid 12% which is used in Glyco -A was in use in the last 40 years abroad and several drugs have been evolved from it. "The clinical experience of Glycolic acid is that when it is used in different formulations the response in treatment is tremendous."
The main reason to introduce the product in India that being a tropical country it has the highest incidence of hyper pigmentation in the world. According to some sources, 10 percent of people in India suffer from some form of hyper pigmentation.
Glyco-A is priced at Rs. 90 for a 30gm tube.
Right now the derma market is valued at around Rs. 700 crore but Micro Vision is looking at a share close to 0.5 per cent alone. Micro Vision expects to achieve a sales turnover of Rs. 5 to Rs. 6 crore in the coming 12 to 18 months. This division contributes 8 to 10 per cent revenue to Micro Labs turnover of Rs. 320 crore.
Micro Vision was started in July 1999. In the first year of its launch the company's turnover was Rs. 6 crore and in June this year it was Rs. 13.5 crore and in the coming financial year it is all set to register earnings to the tune of Rs. 26 crore. In ophthalmology, Micro Vision has a range of products in antibiotics, steroids, tear substitutes, anti glaucoma and mydriatics etc. "We are known for Oflacin and Microflox DX which have become our top brands in the less than two years time," informed Rajagopalan