Alkem Laboratories’ medical devices unit will buy up to a 55% stake in Switzerland’s Occlutech Holding for 99.4 million euros ($118 million), the Indian pharma company said on Friday, marking its entry into advanced cardiovascular devices.
The deal, expected to close by June 2026 and subject to final agreements and regualtory approvals, will give Alkem MedTech access to high-value markets such as the United States, Japan, Germany and other Western European countries, Alkem MedTech Chief Executive Kaustav Banerjee said in a statement.
The global medical devices market size is projected to grow to over $1 trillion by 2034 from $604.99 billion in 2026, according to market research and consulting services firm Fortune Business Insights.
Alkem is India’s fifth-largest listed pharmaceutical company in terms of market share.
Occlutech, the second-largest player in Europe’s minimally invasive cardiac implants segment, posted a revenue of 49.4 million for 2025. It derives about 85% of its revenue from Europe and the U.S.
Alkem Laboratories also reported third-quarter consolidated net profit of 6.36 billion rupees, missing analyst estimates of 6.51 billion rupees, according to LSEG data.
Revenue rose nearly 11% to 37.37 billion rupees but fell short of estimates of 37.6 billion rupees.
Shares of the company settled 8% lower on the day.
