The Micro Group, a pharmaceutical major in the south, is currently in the process of restructuring its four business units. It is expected to merge its four companies Micro Labs, Brown & Burk, Micro Nova and Eros Pharma into the parent company before March 2005. In this connection, the company has applied for various clearances from financial institutions and hopes to complete the process before the end of this financial year.
Currently, the Micro Group has one division - Micro Exports- but Micro Labs has 5 divisions: Cardicare, Carsyon, Micro Vision, Synapse and Syncro. Post merger, the individual companies- Micro Labs, Brown & Burk, Micro Nova and Eros Pharma -will now be converted into divisions and the Micro Group will have a total of 10 divisions.
As a part of the fresh capital induction strategy, the Group also intends to tap the capital market for its future projects. However, no further details were disclosed. At present, the Group has 11 production units located in the southern states of India.
In order to make an aggressive entry in the regulated markets, the company invested Rs 100 crore for the up-gradation of its existing three plants at Hosur, one plant at the Veerasandra Industrial Area along with two facilities in Peenya in the outskirts if Bangalore, two plants at Pondicherry and one unit at Kumbalgod, near Mysore. The new manufacturing plants are located at Goa and Pondicherry. It is also in the process of building two new plants at Bommasandra.
This year Micro Group received the UK-MHRA approval for its Hosur plant which allows the company to enter into the regulated European markets. The facility has also received a certification from Invima Colombia, Health Canada and South Africa's Medicines Control Council, informed Dilip Surana, managing director, Micro Labs.
The Group's facility in Veerasandra Industrial Area specializing in betalactum products has a capacity of 450 million tablets, 600 million capsules and 8 million bottles of Dry Syrup Powder per annum was approved by Health Canada and South Africa's Medicines Control Council.
The new Goa plant, located at the Verna Industrial Area with a production capacity per annum on single shift basis of 1200 million tablets and 250 million hard gelatin capsules, is built according to US-FDA / UK-MHRA requirements.
With a turnover of Rs 477 crore and a growth rate of 24 per cent the Micro Group is one of the fastest growing enterprises manufacturing products in cardiovascular, dermatology, ophthalmology, psychiatry, anti diabetic, neurological, anti bacterial, anti fungal, anti-allergants, analgesics, gynaecology.