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SCHOTT Pharma, a pioneer in drug containment and delivery solutions has announced that TPG, a leading global alternative asset management firm, has entered into a binding agreement to acquire a 35% stake in its joint venture SCHOTT Poonawalla from Serum Institute of India (SII). SCHOTT Poonawalla is a joint venture of SCHOTT Pharma and SII, part of the Cyrus Poonawalla Group and a global leader in vaccine manufacturing, dedicated to providing affordable vaccines worldwide.
TPG Growth, TPG’s middle market and growth equity platform, is funding the investment, along with Novo Holdings as a co-investor. Following the transaction, SII will retain a minority stake in the company.
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.
SCHOTT Poonawalla designs advanced drug containment and delivery solutions for pharmaceutical and biotechnology customers. The company’s portfolio features a large range of products including cartridges for auto-injector pens, prefillable syringes for a wide variety of biologics, vials, ampoules, as well as regulatory services for biotech and pharmaceutical companies, and contract development and manufacturing organizations (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.
“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,” said Adar Poonawalla, CEO, Serum Institute of India.
“India continues to be one of the most dynamic and strategically important manufacturing hubs for SCHOTT Pharma. 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, 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.
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