Micro Labs Ltd, recently received UK MHRA approval for one of its facility at Hosur in Tamil Nadu. The approval enables Micro Labs to enter into the regulated European markets, which has a market potential of $10 billion for generics. This facility manufactures tablets and capsules.

Micro Labs has filed for initial product registrations in Europe and is in discussion with several companies for purchase of existing product licensing in Europe. Through this approval, the company is all set to enter the UK market and it would also enable Micro Labs to have a strong foothold in European market. The plant is a part of Rs 100-crore investment on modernization and up-gradation project of the company.

"The UK MHRA approval significantly strengthens the company's foray into the regulated markets," informed Dilip Surana, managing director, Micro Labs Ltd. "The UK MHRA approval has proved to be timely, since after our approvals another 10 new member countries have joined the European Union on May 1, 2004. Apart from Germany and UK, the other major countries are Italy, France and Spain. The market value is estimated to be around $79 billion," he added.

Micro Labs Ltd is one of the fastest growing company with a turnover of Rs 477 crore, manufacturing products in cardiovascular, dermatology, ophthalmology, psychiatry, anti diabetic, neurological, anti bacterial, anti fungal, anti-allergants, analgesics, gynaecological etc.