TPG to Acquire 35% Stake in SCHOTT Poonawalla from Serum Institute

SCHOTT Pharma, a global leader in drug containment and delivery solutions, has announced a binding agreement with TPG, a prominent alternative asset management firm, under which TPG will acquire a 35% stake in SCHOTT Poonawalla. The stake will be purchased from the Serum Institute of India (SII), a key player in global vaccine manufacturing and part of the Cyrus Poonawalla Group.

SCHOTT Poonawalla is a joint venture between SCHOTT Pharma and SII, focusing on advanced drug containment and delivery systems. TPG’s investment will be made through its growth equity platform, TPG Growth, with Novo Holdings participating as a co-investor. Upon completion of the transaction, SII will retain a minority interest in the company.

The deal is subject to customary closing conditions and is expected to conclude in the first half of 2025. Jefferies served as the financial advisor to TPG. Legal advisory was provided by AZB & Partners for TPG and SCHOTT Pharma, and J. Sagar Associates (JSA) represented Serum Institute.

SCHOTT Poonawalla caters to pharmaceutical and biotech clients with a comprehensive portfolio, including cartridges for auto-injector pens, prefillable syringes suited for biologics, vials, ampoules, regulatory services, and solutions for CDMOs.

Bhushan Bopardikar, Business Unit Partner at TPG Growth, expressed enthusiasm about the partnership: “We are thrilled to join forces with SCHOTT Pharma and SII to strengthen SCHOTT Poonawalla’s position as India’s largest provider of injectable-focused containment solutions.”

Adar Poonawalla, CEO of SII, commented, “Bringing TPG on board is a significant step forward. Their healthcare expertise and global reach make them a valuable partner as we scale operations and pursue new opportunities. Our strategic alliance with SCHOTT Pharma remains intact, ensuring resilience and innovation in vaccine packaging and delivery.”