Alkem Labs announced two strategic acquisitions totalling nearly Rs 290 crore to cement its position in the domestic market.
Alkem has signed a binding term sheet to acquire 100% stake of Adroit Biomed, a pharmaceutical company with focus on skincare segment, for around Rs 140 crore. Also, the company’s subsidiary Alkem MedTech has signed a binding offer to acquire 100% stake of Bombay Ortho Industries, a manufacturer of orthopaedic implants, for around Rs 147 crore.
BN Singh Singh, chairman , Alkem, said, “The acquisition of Adroit will enable Alkem to diversify its portfolio, enhance market penetration and strengthen 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, Managing Director, Alkem, said, “Medtech is a fast-growing space in India and the patient 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.”
A business journalist with around two decades of experience track...
Read MoreA business journalist with around two decades of experience tracking key consumer-focussed sectors like consumer durables, retail, consumer goods, aviation, automobiles and advertising, as well as economic ministries of the Union government. Now, writes primarily on pharmaceuticals and healthcare, and on issues of consumer interest. Besides also looks at trends that are shaping consumer behaviour and the broad consumer landscape. \nYou can follow Rupali on Twitter@Rupalijee.
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