SCHOTT Pharma and Serum Institute of India welcome new partner to Joint Venture in India; TPG makes strategic investment in SCHOTT Poonawalla
Tuesday, May 6, 2025, Mainz, Germany / Mumbai, India
- TPG, a leading global alternative asset management firm will acquire 35% stake in SCHOTT Poonawalla from Serum Institute of India (SII)
- SII will retain a minority stake in the company, with SCHOTT Pharma maintaining 50% ownership
- Strategic partnership drives the next phase of growth for the joint venture, reinforcing SCHOTT Pharma's commitment to India as a leading global pharma hub
“Partnering with TPG marks an important step for us,” said Adar Poonawalla, CEO of Serum Institute of India. “Their experience in healthcare investing and global network make them a strong partner as we scale and explore new opportunities. Our collaboration with SCHOTT Pharma will continue, ensuring supply chain resilience and advancing innovation in vaccine packaging and delivery.”
“India continues to be one of the most dynamic and strategically important manufacturing hubs for SCHOTT Pharma. Welcoming TPG to the partnership marks an exciting step forward in our collaboration. SCHOTT Pharma’s innovation capabilities and pure-play focus on injectables will be complemented by TPG’s local market expertise, relationships, and experience from its strong presence in the Indian healthcare sector. As we continue to expand our local production capacities and leading role in the Indian market, we are confident that this step will further enhance our global footprint and deliver exceptional value to our customers,” said Andreas Reisse, CEO at SCHOTT Pharma.
“Now more than ever, our pharmaceutical customers are relying on us to supply next-generation cutting-edge drug delivery solutions, as they continue to innovate, expand operations and supply complex drugs,” said Ashok Saxena, Managing Director, SCHOTT Poonawalla. “We are excited to welcome TPG onboard as an investor, and are confident that their proven track record of successfully driving healthcare businesses in the Indian market will greatly benefit SCHOTT Poonawalla.”
The transaction is subject to customary closing conditions and is expected to close within the first half of 2025.
Jefferies acted as the financial advisor to TPG. AZB & Partners acted as the legal advisors to TPG and SCHOTT Pharma. J. Sagar Associates (JSA) acted as the legal advisors to Serum Institute.
Founded in 1966, SIIPL's primary mission is to produce life-saving immunobiological drugs, with a particular emphasis on affordability and accessibility. Guided by a strong commitment to improving global health, the company has played a pivotal role in reducing the prices of essential vaccines, such as Diphtheria, Tetanus, Pertussis, HIB, BCG, r-Hepatitis B, Measles, Mumps, and Rubella. Notably, they are the manufacturers of 'Pneumosiil,' the world's most affordable PCV, 'Cervavac' the first indigenous qHPV vaccine in India, and R21/Matrix-M™, the second Malaria vaccine to be authorized for use in children in malaria-endemic regions, ‘MenFive’, the first in the world Pentavalent (ACYWX) Meningococcal Polysaccharide Conjugate Vaccine, approved and WHO-prequalified for use in the pediatric population. Moreover, SIIPL has been at the forefront of the global fight against COVID-19, delivering over 2 billion doses of the COVID-19 vaccine worldwide.
To further expand its global presence and ensure widespread vaccine availability, SII has established Serum Life Sciences Ltd, a subsidiary in the UK. Through relentless pursuit of innovation, SII continues to champion the cause of affordable vaccines, making a positive impact on the lives of millions worldwide. www.seruminstitute.com
About SCHOTT Pharma
Human health matters. That is why SCHOTT Pharma designs solutions grounded in science to ensure that medications are safe and easy to use for people around the world. Every minute, more than 25,000 people receive an injection packed in a SCHOTT Pharma product. The portfolio comprises drug containment solutions and delivery systems for injectable drugs ranging from prefillable glass and polymer syringes to cartridges, vials, and ampoules. Every day, a team of around 4,700 people from over 60 nations works at SCHOTT Pharma to contribute to global healthcare. The company is represented in all main pharmaceutical hubs with 17 manufacturing sites in Europe, North and South America, and Asia. With over 1,000 patents and technologies developed in-house and a state-of-the-art R&D center in Switzerland, the company is focused on developing innovations for the future. SCHOTT Pharma AG & Co. KGaA is headquartered in Mainz, Germany and listed on the Frankfurt Stock Exchange as part of the SDAX. It is majority owned by SCHOTT AG, which is owned by the Carl Zeiss Foundation. In light of this spirit, SCHOTT Pharma is committed to sustainable development for society and the environment. Currently, SCHOTT Pharma has over 1,800 customers including the top 30 leading pharma manufacturers for injectable drugs and generated revenue of EUR 957 million in the fiscal year 2024. Further information at www.schott-pharma.com
Lea Kaiser
PR & Communications Manager