SCHOTT Pharma, a provider of drug containment solutions and delivery systems for injectable drugs, announced that TPG — a global alternative asset management firm — will acquire a 35 percent stake in its joint venture, SCHOTT Poonawalla, from the Serum Institute of India (SII).
SCHOTT Poonawalla is a joint venture between SCHOTT Pharma and SII, part of the Cyrus Poonawalla Group.
The investment is being made through TPG Growth, the firm’s growth equity platform, with Novo Holdings joining as a co-investor. Post-transaction, SII will retain a minority stake.
The deal marks a major milestone for SCHOTT Poonawalla, adding strong financial backing and strategic support as it looks to expand globally.
The company offers products like vials, ampoules, prefillable syringes, and cartridges for auto-injectors. It also provides regulatory services and works with biotech firms and CDMOs.
“We are excited to partner with SCHOTT Pharma and Serum Institute of India and build upon SCHOTT Poonawalla’s market leadership position as India’s largest injectables-focused drug containment solutions company,” said Bhushan Bopardikar, Business Unit Partner at TPG Growth.
“On the back of a world-class manufacturing infrastructure in India, SCHOTT Poonawalla has developed an industry leading reputation by offering a comprehensive product portfolio of the highest quality for over two decades. We look forward to partnering with the senior leadership team as they continue to innovate and improve the quality and standards of pharmaceutical drug containment solutions,” Bopardikar added.
Adar Poonawalla, CEO of Serum Institute of India, said, “Partnering with TPG marks an important step for us. 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.”
Andreas Reisse, CEO, SCHOTT Pharma, said, “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.”
Ashok Saxena, Managing Director, SCHOTT Poonawalla, said, “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.”
“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,” he added.
The deal is expected to close in the first half of 2025, subject to customary approvals and closing conditions.
