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Micro Labs Limited: Planning for the Future
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The pharmaceutical industry prides itself on being the second largest growth industry in India; by the year 2015, it will be the third largest industry in the world. One of its major players, Micro Labs Limited, was established to provide quality healthcare products at an affordable cost. From supplying antibacterial antiseptics and vitamins to a local market, the company has expanded both nationally and internationally in such fields as eye care, heart disease, diabetes, neuropsychiatry, dermatology, paediatrics and gynecology. It not only provides training for specialists in its various sectors, but has a strong emphasis on research and development of new drugs and licensing them internationally. The founder's sons have taken over the firm and now must decide how to maintain its competitive edge and how to achieve its goal of becoming a $1 billion company while respecting and enhancing their father's vision for the brand.