India, Feb. 7 -- Mumbai-based Alkem Laboratories, a leading Indian pharmaceutical company, has announced two strategic acquisitions to further 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, Alkem'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.

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. Als...