Alkem Laboratories announces strategic acquisitions of Adroit Biomed and Bombay Ortho Industries

Alkem Laboratories, an Indian pharmaceutical company, has announced two strategic acquisitions aimed at strengthening its position in the domestic market. The company has signed a binding term sheet to acquire a 100 per cent stake in Adroit Biomed, a company focused on the skincare segment, for approximately INR 140 crore. In addition, Alkem’s subsidiary, Alkem MedTech, has entered a binding offer to acquire a 100 per cent stake in Bombay Ortho Industries, a manufacturer of orthopaedic implants, for around INR 147 crore.

B.N. Singh, Chairman of Alkem, commented, “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 of Alkem, added, “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.”

Adroit Biomed has a diverse dermatology portfolio, with key brands including Glutone, SkinFay, Racine, and FortiSil. The company reported a revenue of INR 53.55 crore for the financial year ending March 2024.

Alkem plans 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.

*Note: The acquisition value for both companies is subject to adjustment on debt, debt like items and change in normalised working capital as on closing date.