Micro Vision, the ophthalmology arm of Micro Labs Limited, has invested Rs 30 crore to set up a state-of-the-art UK MHRA-compliant facility at Bommasandra in the outskirts of Bangalore which will allow exports to the regulated markets for the first time.
The dedicated ophthalmic plant, to be commissioned in June 2005, will manufacture sterile ophthalmics and will have a production capacity of three lakh bottles per day.
With the approval of the new plant by the regulatory team from UK, it will be the third facility for Micro Labs with UK MHRA-compliance, the other two being the Brown & Burk Unit II at Hosur and its facility at Goa.
Currently, the company is manufacturing a major range of its ophthalmic drugs at its facility in Hosur and a small portion is assigned for production on contract. It is currently exporting only to the unregulated markets.
The division's focus has largely been in the area of anti-infective and steroid drugs. It has been able to consolidate its presence in the domestic market where it is currently ranked second in the national ophthalmic market in terms of prescription sales.
With the growing demands in ophthalmic care, Micro Vision has taken a decision to expand its product portfolio to offer drugs in the tear substitute and glaucoma segment with an objective to strengthen its expertise in ophthalmic drugs. In the tear substitute segment, it maiden product Lubrex eye drops has managed to garner substantial success with Rs 1 crore sales in the last six months. Two more drugs in this segment are slated in the next two months, S Rajagoplan, vice president marketing & sales Micro Vision told Pharmabiz.com
By April 2005, three glaucoma products are expected to be introduced and one of them will be a first-of-its-kind in the country. There will also be a slew of eye ointments in the infective and viral category.
The current value of the ophthalmic market in the country is estimated to be Rs 300 crore with a growth rate of around 10 per cent. Micro Vision is expected to contribute Rs 18 crore to the Micro Group's turnover of Rs 500 crore this financial year.
Micro Vision handles two segments-ophthalmology and dermatology. In April 2005, the two segments will spin off in to Strategic Business Units. While the ophthalmology segment will have a total work force of 150 sales personnel during the year 2005, the derma segment will have a marketing team of 200 people.
In the derma segment, the products focus covers anti infectives, steroids, pigmentation, sun screens, Hyper-Keratosis, acne, scabies, Psoraris, hair growth and hirsutism which is expected to generate sales to the tune of Rs 25 crore end of next month.