TPG Acquires 35% Stake in SCHOTT Poonawalla

New Delhi, May 6 (PTI) SCHOTT Pharma on Tuesday said global alternative asset management firm TPG will acquire a 35 per cent stake in its joint venture SCHOTT Poonawalla from Serum Institute of India (SII) for an undisclosed sum.

TPG has entered into a binding agreement to acquire a 35 per cent stake in SCHOTT Poonawalla -- 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, SCHOTT Pharma said in a statement.

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, it added.

Terming the partnership with TPG as "an important step", SII CEO Adar Poonawalla said, "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."

TPG Growth Business Unit Partner Bhushan Bopardikar said the partnership will build upon SCHOTT Poonawalla's market leadership position as India's largest injectables-focused drug containment solutions company.


"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," Bopardikar added.

SCHOTT Pharma CEO Andreas Reisse said India continues to be one of the most dynamic and strategically important manufacturing hubs for the company.

He further said 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," Reisse added.

The transaction is subject to customary closing conditions and is expected to close within the first half of 2025, the statement said.