TPG has agreed to acquire a 35% stake in drug containment firm SCHOTT Poonawalla from Serum Institute of India (SII). The decision was announced on Tuesday, and the acquisition is being led by TPG Growth—TPG’s middle-market and growth equity platform—with Denmark-based Novo Holdings joining as a co-investor.
Once the deal closes, Serum Institute will retain a minority holding in SCHOTT Poonawalla, while SCHOTT Pharma continues as the controlling stakeholder.
SCHOTT Poonawalla, a joint venture between German specialty glassmaker SCHOTT Pharma and SII—part of the Cyrus Poonawalla Group—manufactures a wide range of advanced containment and delivery systems including vials, prefillable syringes, ampoules, and cartridges for auto-injector pens. The company also provides regulatory services and works closely with CDMOs (Contract Development and Manufacturing Organisations).
TPG’s investment is intended to support the company’s growth ambitions both in India and globally.
“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 of Serum Institute of India.
“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... for over two decades.”
The move comes at a time when pharmaceutical companies are ramping up capacity for biologics and complex injectable drugs, with demand for high-quality packaging solutions rising sharply.
SCHOTT Pharma CEO Andreas Reisse said India remains a “strategically important manufacturing hub” for the company.
“Welcoming TPG to the partnership marks an exciting step forward in our collaboration,” Reisse said. “TPG’s local market expertise, relationships, and experience from its strong presence in the Indian healthcare sector... will further enhance our global footprint.”
Ashok Saxena, Managing Director at SCHOTT Poonawalla, highlighted the company’s role in supplying next-generation drug delivery systems. “We are excited to welcome TPG onboard... their proven track record of successfully driving healthcare businesses in the Indian market will greatly benefit SCHOTT Poonawalla,” he said.
The deal is expected to close in the first half of 2025, subject to regulatory approvals and customary closing conditions.
Once the deal closes, Serum Institute will retain a minority holding in SCHOTT Poonawalla, while SCHOTT Pharma continues as the controlling stakeholder.
SCHOTT Poonawalla, a joint venture between German specialty glassmaker SCHOTT Pharma and SII—part of the Cyrus Poonawalla Group—manufactures a wide range of advanced containment and delivery systems including vials, prefillable syringes, ampoules, and cartridges for auto-injector pens. The company also provides regulatory services and works closely with CDMOs (Contract Development and Manufacturing Organisations).
TPG’s investment is intended to support the company’s growth ambitions both in India and globally.
“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 of Serum Institute of India.
“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... for over two decades.”
The move comes at a time when pharmaceutical companies are ramping up capacity for biologics and complex injectable drugs, with demand for high-quality packaging solutions rising sharply.
SCHOTT Pharma CEO Andreas Reisse said India remains a “strategically important manufacturing hub” for the company.
“Welcoming TPG to the partnership marks an exciting step forward in our collaboration,” Reisse said. “TPG’s local market expertise, relationships, and experience from its strong presence in the Indian healthcare sector... will further enhance our global footprint.”
Ashok Saxena, Managing Director at SCHOTT Poonawalla, highlighted the company’s role in supplying next-generation drug delivery systems. “We are excited to welcome TPG onboard... their proven track record of successfully driving healthcare businesses in the Indian market will greatly benefit SCHOTT Poonawalla,” he said.
The deal is expected to close in the first half of 2025, subject to regulatory approvals and customary closing conditions.
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