TPG to acquire 35% stake in SCHOTT Poonawalla, bolstering India’s drug packaging sector

INDIA – Global investment firm TPG has announced plans to acquire a 35% stake in SCHOTT Poonawalla, a leading manufacturer of drug containment and delivery solutions in India.

The stake will be purchased from the Serum Institute of India (SII), one of the world’s largest vaccine producers and part of the Cyrus Poonawalla Group.

SCHOTT Poonawalla is a joint venture between SCHOTT Pharma and SII, established to provide high-quality, cost-effective packaging and delivery systems for pharmaceuticals and vaccines.

TPG will invest in TPG Growth, its platform for mid-sized and growth investments, with Novo Holdings joining as a co-investor. SII will retain a minority interest in the venture following the transaction.

TPG’s entry is expected to bring significant strategic benefits, including enhanced financial resources, global expertise, and advisory support.

The investment aligns with TPG’s long-term vision to back healthcare enterprises with strong domestic operations and global scalability, especially in high-growth markets like India.

SCHOTT Poonawalla’s product portfolio includes vials, ampoules, prefilled syringes for biologics, and cartridges for auto-injectors.

The company also provides regulatory support and collaborates with pharmaceutical manufacturers and contract development and manufacturing organizations (CDMOs).

“We’re excited to work with SCHOTT Pharma and SII,” said Bhushan Bopardikar, Partner at TPG Growth.

“SCHOTT Poonawalla has built a reputation for manufacturing excellence in India. We look forward to accelerating their growth and innovation.”

Adar Poonawalla, CEO of SII, welcomed the new partnership, “TPG brings deep healthcare experience and a global network. This move will unlock new opportunities while our collaboration with SCHOTT Pharma remains strong as we continue to advance vaccine packaging.”

SCHOTT Pharma CEO Andreas Reisse emphasized India’s strategic importance, “This investment will accelerate our expansion plans and strengthen our ability to serve customers globally, with TPG’s local market knowledge adding significant value.”

Ashok Saxena, Managing Director of SCHOTT Poonawalla, added, “TPG’s track record in Indian healthcare investments will greatly benefit our operations and future growth.”

According to TPG, SCHOTT Poonawalla is well-positioned to lead the country’s injectable drug packaging market through its quality-focused approach and deep-rooted industry partnerships.

The transaction is expected to close in the first half of 2025, subject to regulatory approvals. Jefferies acted as financial advisor to TPG, while legal counsel was provided by AZB & Partners (for TPG and SCHOTT Pharma) and J. Sagar Associates (for SII).

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