Mumbai, May 6, 2025 – SCHOTT Pharma, a pioneer in drug containment and delivery solutions, announced today 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.
With deep healthcare investing experience and local expertise in India, having TPG join the partnership alongside SCHOTT Pharma and Serum Institute of India represents a significant milestone in SCHOTT Poonawalla’s growth, equipping the company with additional resources and strategic insight to support its long-term global ambitions.
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. “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.”
“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.”