Financial Daily from THE HINDU group of publications
Saturday, Sep 11, 2004
Financial Daily from THE HINDU group of publications Saturday, Sep 11, 2004 |
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Corporate
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Announcements Micro Labs gets UK, SA approvals Our Bureau
BANGALORE: Micro Labs has received the UK regulatory approval for one of its Hosur facilities and the South African MCC approval for two units, enabling its entry into the regulated European markets. "The approvals enable the company's foray into the regulated markets (of the UK and Europe) and strengthen its strategy for future growth," said Mr Dilip Surana, Managing Director of the Bangalore-based bulks and formulations company. The 25-member EU market is estimated at $79-billion. The UK MCC approval comes at a time when Rs 477-crore Micro Labs has made European filings for initial product registrations and is in talks for purchase of existing product licences in Europe. The southern pharma major recently invested Rs 100 crore to upgrade and set up new facilities to make tablets and capsules. It makes cardiovascular, dermatology, eye care, psychotropic, anti-diabetic, anti-bacterial and analgesic products.
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