Alkem Labs announces acquisitions in skincare and medical devices segments

Alkem Laboratories has announced two acquisitions – in the dermatology and medical device segments – to strengthen its position in the domestic market.  

The company has signed a binding term sheet to acquire 100 per cent stake in Adroit Biomed Ltd., a pharmaceutical company focussed on the skincare segment, for around ₹140 crore, a note from the company said. Separately, Alkem’s subsidiary, Alkem MedTech, has signed a binding offer to acquire 100 per cent stake in Bombay Ortho Industries Pvt Ltd, a manufacturer of orthopaedic implants, for around ₹147 crore.

BN Singh, Alkem Chairman, said, “The acquisition of Adroit will enable Alkem to diversify its portfolio, enhance market penetration and strengthen its presence in the growing segments of dermatology and cosmetology. Also, our investment in Bombay Ortho is in line with our strategy for Medtech in India.”

Sandeep Singh, Alkem Managing Director, added, “Medtech is a fast-growing space in India and the patient’s need for quality products is high. Through our acquisitions in the medical devices segment, we aim to meet the growing demand for implants in India.”

Adroit has a differentiated dermatology portfolio with key brands being Glutone, SkinFay, Racine and FortiSil. Adroit had a revenue of ₹53.55 crore in the financial year ended March 2024. 

Alkem intends to complete the acquisition of Adroit by April 1, 2025 and the acquisition of Bombay Ortho by June 30, 2025, subject to customary closing conditions, the note said.