Alkem Laboratories Secures Access to Exatech's Technology via Partnership

Alkem Laboratories has become the first Indian pharmaceutical company to venture into medical devices, following a partnership with US-based Exactech to produce and market its joint replacement implants in India. Through this agreement, Exactech, headquartered in Gainesville, Florida, will grant Alkem MedTech, a subsidiary of Alkem Laboratories, access to the designs, technology, and marketing rights of its well-known knee and hip implant brands such as Truliant, Optetrak, Logic Fit, Alteon, AcuMatch, Novation, and Novation CFS. Alkem will manufacture and distribute these implants in the Indian market.

Although Alkem has not provided specifics about investments or whether it will establish a new manufacturing facility or opt for contract manufacturing, the partnership is considered a significant advancement in Indian medical device manufacturing. Kaustav Banerjee, CEO of Alkem MedTech, stated that the agreement aligns with India's mission to promote the domestic production of high-precision medical devices.

India's orthopedic implant market, valued at ₹4,838 crores in 2023, is anticipated to grow at a compound annual growth rate (CAGR) of 9.23% by 2030. The market is dominated by knee-replacement products, followed by trauma and spine segments.