Global investment firm TPG has signed a legally binding agreement to purchase a 35% ownership in SCHOTT Poonawalla, the joint venture between Serum Institute of India (SII) and Germany-based SCHOTT Pharma. This is a significant milestone for the pharmaceutical packaging sector. The JV, a major provider of innovative drug containment and delivery systems to the worldwide pharmaceutical and biotech industries, announced the deal on May 6, 2025, marking a significant milestone.
The acquisition is being executed through TPG Growth, the firm’s middle-market and growth equity platform, with Denmark’s Novo Holdings participating as a co-investor. While financial details of the transaction remain undisclosed, the deal is expected to close in the first half of 2025, subject to customary regulatory approvals and closing conditions. Post-transaction, SCHOTT Pharma will retain its 50% controlling stake, while SII will continue as a minority shareholder, ensuring ongoing collaboration among all partners.
Expanding Capabilities in Drug Containment and Delivery:
SCHOTT Poonawalla, established in 1990, stands as a leader in manufacturing critical pharmaceutical packaging components such as vials, refillable syringes, ampoules, and cartridges for auto-injector pens. The company’s offerings are integral to the injectable drug and vaccine ecosystem, serving a rapidly growing market driven by increased demand for biologics, vaccines, and complex drug formulations. The joint venture is also known for its regulatory services, supporting pharmaceutical and biotech clients, including contract development and manufacturing organizations (CDMOs).
The infusion of capital and strategic expertise from TPG is expected to accelerate SCHOTT Poonawalla’s growth trajectory, enabling the company to scale up operations, invest in next-generation drug delivery systems, and further strengthen its position in the global pharmaceutical supply chain. Ashok Saxena, Managing Director of SCHOTT Poonawalla, emphasized the company’s focus on innovation, stating that TPG’s track record in healthcare investing in India would be invaluable as the company expands its product portfolio and market reach.
Strategic Partnership to Drive Innovation and Supply Chain Resilience:
For SCHOTT Pharma, the partnership with TPG and continued collaboration with SII reinforces India’s role as a strategic manufacturing and innovation hub. Andreas Reisse, CEO of SCHOTT Pharma, highlighted that welcoming TPG as a partner would not only strengthen the company’s presence in India but also enhance its global footprint. The joint venture leverages the manufacturing strength of SII, the world’s largest vaccine producer, and the technological expertise of SCHOTT Pharma, a pioneer in specialty glass and pharmaceutical packaging.
TPG’s deep experience in healthcare and its global network are seen as critical assets in supporting SCHOTT Poonawalla’s ambitions. Bhushan Bopardikar, Business Unit Partner at TPG Growth, noted that SCHOTT Poonawalla has established itself as a market leader with world-class manufacturing capabilities in India, and the partnership aims to build on this foundation to accelerate growth and innovation.
Adar Poonawalla, CEO of Serum Institute of India, expressed confidence in the new partnership, stating that TPG’s involvement would help SCHOTT Poonawalla scale new heights while ensuring continued supply chain resilience and advancement in vaccine packaging and delivery technologies.
Advisors and Outlook for the Joint Venture:
Jefferies, which served as TPG’s finance advisor, mediated the deal, and AZB & Partners and J Sagar Associates offered legal advice. The transaction shows the continued interest of private equity in India’s pharmaceutical and healthcare industries, especially in businesses that are essential to the infrastructure of global health.
The partnership is expected to unlock new opportunities for SCHOTT Poonawalla, enabling it to meet the evolving needs of the pharmaceutical industry, both in India and internationally. The company’s commitment to quality, innovation, and regulatory compliance positions it well to capitalize on the growing demand for advanced drug containment solutions.
With TPG’s investment, SCHOTT Poonawalla is poised for its next phase of growth, reinforcing its leadership in the injectable drug and vaccine packaging market and supporting the broader mission of affordable and accessible healthcare solutions worldwide.
