Merck & Co reportedly eyeing Micro Labs buy

US drugs giant Merck & Co has begun talks with privately-held Indian drugmaker Micro Labs to acquire the maker of active pharmaceutical ingredients (APIs) and finished formulation, accord to a report by the local Financial Express.

Quoting a person with direct knowledge of the development, the newspaper said that Micro Labs and Merck have “shared information.” Companies share information when they are willing to negotiate a future deal and are followed later by due diligence.

Micro Labs, which was founded in 1973 by pharmaceutical dealer GC Surana, aims to achieve sales of about $1 billion by 2015, according to the company's web site. Ranking 10th among prescriptions and 20th in sales in India, Micro’s brand portfolio includes some of the top brands in various specialties such as cardiology, diabetes, anti-infectives, ophthalmology and pain. The firm has a marketing and distribution network in both India and overseas.