Micro Nova Pharmaceuticals Limited, part of the Micro Group is now aggressive in promoting iron formulations market with 'Ferox', a carbonyl iron, fortified with selenium, vitamin E, folic acid and vitamin B12 formulation. The product is currently registering a growth rate of 89 per cent as per ORG data 2003.

Ferox is viewed as a future growth driver for the company because of its acceptance among medical practitioners as a safe and well tolerated product among anaemic patients compared to other conventional iron formulations.

Carbonyl iron formulations has become the new prescription trend among medical practitioners going by change in the treatment modalities by gynaecologists and paediatricians who prefer dependable formulations to treat iron deficiency anaemia. To capitalise the potential in the iron formulations market, Micro Nova's placed its two-year old brand Ferox in capsule form on a excellent trajectory and went on to introduce Ferox liquid recently.

Ferox is an advanced combination to help build haemoglobin. It ensures better haematological response, protects the red blood corpuscles (RBC) from free radical damage and facilitates RBC maturation.

According to V Sridhar, executive vice president, Micro Nova, Ferox is one of the first haematinic preparations that has carbonyl iron in its purest form. The plan of action by Micro Nova with Ferox is to further strengthen its position in the domestic market where it is ranked among the top five iron drugs.

The total market value of iron formulations in India is Rs. 430 crore. Solid irons, which are the conventional salts, constitute 48 per cent while liquid irons that include haemoglobin preparations form 52 per cent. The market holds a lot of promise for carbonyl iron and shows a steep decline in the sales of iron poly maltose formulations.

The current annual growth rate of carbonyl iron is 35 per cent, compared to the not so impressive growth of the total haematinic market, which is in single digits.

The scales tilt in favour of carbonyl iron because it is the purest form of iron with a 98 percent absorption rate. It reduces complications like gastrointestinal problems, nausea, diarrhoea and even constipation compared to other conventional iron preparations.

In the wake of the growing popularity of carbonyl iron, Micro Nova's future strategy is to dominate with Ferox, said Sridhar.

The other formulations of Micro Nova are Dolopar which is the flagship brand of the Micro Group that is considered to be a time-tested and safe paracetamol formulation which is preferred by the medical practitioners in the wake of the Nimuslide controversy The antibiotics range includes Gatifloxacin, Azithromycin, Cefadroxil and Cefpodoxime. Anti ulcerant Pantoperazol, cough expectorant Ventril in addition to Z&B- B Complex fortified with chromium and zinc constitute its broad based product portfolio.

Micro Nova is one of the important constituents of Micro Group which is poised for rapid growth because of its distinctive product basket that are future revenue earners and aggressive product launches.

The Micro Group has nine dedicated divisions: Brown & Burk, Cardicare, Carsyon, Micro Exports, Micro Labs, Micro Nova, Micro Vision, Synapse and Syncro and has an ORG ranking of 17. The Group has registered a growth rate of 28 per cent as against the sluggish growth of the total Indian pharmaceutical sector, which is 4 per cent.