Alkem acquires Skincare and Med-Device entities for ₹287crore

Mumbai: Opting the brownfield investment route to expand its portfolio, drug maker Alkem Laboratories has acquired skincare focused Adroit Biome and device maker Bombay Ortho Industries for around ₹140 crore and ₹147 crore respectively.

Alkem has signed a binding term sheet to acquire 100 per cent stake of Adroit Biomed Ltd., a pharmaceutical company with focus on skincare segment, for around ₹140 crore whereas its Med-Tech wing Alkem MedTech has signed a binding offer to acquire 100 per cent stake of Bombay Ortho Industries Pvt Ltd, a manufacturer of orthopaedic implants, for around ₹147 crore.

The drug maker is looking to complete the acquisition of Adroit by April 1, 2025 and the acquisition of Bombay Ortho by June 30, 2025, the release stated.

B.N. 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.”

Commenting over its investment in Med-Deice segment, 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.”

The skincare brand, Adroit had a revenue of ₹53.55 crore in FY 23-24 and its portfolio comprises Glutone, SkinFay, Racine and FortiSil.

The drug and cosmetics maker is focusing to expand its portfolio specially in the dermatology space as recently the company has also launched a liposomal skin care serum with Duo-Lipo technology for managing facial hyperpigmentation in India.