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Entrepreneur
07-05-2025
- Business
- Entrepreneur
TPG to Acquire 35% Stake in SCHOTT Poonawalla from Serum Institute of India
The transaction is expected to close in the first half of 2025. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Global investment firm TPG has entered into a binding agreement to acquire a 35% stake in SCHOTT Poonawalla Pvt Ltd, a leading drug packaging joint venture between Germany's SCHOTT Pharma and Serum Institute of India (SII), part of the Cyrus Poonawalla Group. SCHOTT Pharma, which focuses on drug containment and delivery systems, announced the deal and confirmed it would retain its 50% stake in the JV. Serum Institute will continue to hold a minority interest after the transaction. The deal is being funded by TPG Growth and co-investor Novo Holdings. Financial terms were not disclosed. The transaction is expected to close in the first half of 2025, subject to regulatory approvals and customary conditions. SCHOTT Poonawalla manufactures critical packaging products such as vials, syringes, and cartridges—vital components in the injectable drug and vaccine ecosystem. The JV serves a growing pharmaceutical market driven by rising demand for biologics and vaccines. "Having TPG join the partnership alongside SCHOTT Pharma and Serum Institute of India represents a significant milestone," the companies said in a joint statement. TPG, which manages USD 246 billion in assets, considers healthcare a core investment theme. "We are excited to partner with SCHOTT Pharma and Serum Institute and build upon SCHOTT Poonawalla's market leadership," said Bhushan Bopardikar, Business Unit Partner at TPG Growth. Adar Poonawalla, CEO of Serum Institute, added, "Their experience in healthcare investing and global network make them a strong partner." Jefferies and AZB & Partners advised on the deal, with J. Sagar Associates handling legal aspects.
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Business Standard
06-05-2025
- Business
- Business Standard
TPG acquires 35% in SCHOTT Poonawalla, SII retains minority stake
SCHOTT Pharma, a global player in drug containment and delivery solutions, announced on Tuesday that global investment firm TPG has acquired a 35 per cent stake in its Indian joint venture, SCHOTT Poonawalla, from the Serum Institute of India (SII). The investment, made through TPG Growth — the firm's middle-market and growth equity platform — includes Novo Holdings as a co-investor. Post-transaction, SCHOTT Pharma will continue to hold 50 per cent of the joint venture, while SII will retain a minority stake. The infusion of capital and expertise from TPG is expected to drive the company's next phase of growth and strengthen its position in the global pharmaceutical supply chain. The transaction, subject to customary closing conditions, is expected to be completed in the first half of 2025. SCHOTT Poonawalla, a collaboration between SCHOTT Pharma and SII — the world's largest vaccine manufacturer and part of the Cyrus Poonawalla Group — manufactures advanced drug containment systems, including cartridges for auto-injector pens, prefillable syringes, vials, and ampoules. It also provides regulatory services to pharma and biotech clients, including CDMOs (contract development and manufacturing organisations). Commenting on the development, Bhushan Bopardikar, business unit partner at TPG Growth, said: 'SCHOTT Poonawalla has established itself as a market leader with a world-class manufacturing base in India. We are excited to partner with SCHOTT Pharma and SII to accelerate the company's growth and innovation.' Adar Poonawalla, CEO of SII, said that while the company is partially exiting the joint venture, it will continue its collaboration with SCHOTT Pharma. 'TPG brings healthcare investing experience and a global network, which makes them a strong partner as SCHOTT Poonawalla scales and explores new opportunities,' he said. SCHOTT Pharma's CEO Andreas Reisse said India remains a key strategic manufacturing base for the company. 'Welcoming TPG to this partnership strengthens our presence in the Indian market and enhances our global reach,' he added. Ashok Saxena, managing director of SCHOTT Poonawalla, added that the company is focused on next-generation drug delivery systems. 'We're confident that TPG's track record in healthcare in India will be invaluable.' Jefferies advised TPG on the deal, with AZB & Partners and J Sagar Associates serving as legal advisors.
Time of India
06-05-2025
- Business
- Time of India
TPG to acquire 35% stake in SCHOTT Poonawalla from Serum Institute of India
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel 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 the deal closes, Serum Institute will retain a minority holding in SCHOTT Poonawalla, while SCHOTT Pharma continues as the controlling 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 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 deal is expected to close in the first half of 2025, subject to regulatory approvals and customary closing conditions.
