TPG to acquire 35% stake in SCHOTT Poonawalla from Serum Institute
The transaction, funded through TPG Growth and co-investor Novo Holdings, is expected to close in the first half of 2025.
TPG, a global alternative asset manager, has entered into a binding agreement to acquire a 35% stake in SCHOTT Poonawalla from Serum Institute of India.
This was announced by Germany-based SCHOTT Pharma, which specialises in drug containment and delivery systems.
Formed as a collaboration between SCHOTT Pharma and Serum Institute—part of the Cyrus Poonawalla Group—SCHOTT Poonawalla manufactures a range of primary packaging solutions including vials, syringes, and cartridges for injectable drugs.
SCHOTT Pharma will retain its 50% ownership in the joint venture, while Serum Institute will continue to hold a minority interest following the transaction.
The financial terms of the deal were not disclosed.
Adar Poonawa, CEO of Serum Institute; Source:Twitter
The transaction, funded through TPG Growth and co-investor Novo Holdings, is expected to close in the first half of 2025, pending regulatory approvals and customary closing conditions.
SCHOTT Poonawalla operates in a fast-growing segment of the pharmaceutical supply chain, catering to the demand for high-quality packaging materials amid rising biologics and vaccine production.
“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 $246 billion in assets, has made healthcare a core investment theme globally.
"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.
For Serum Institute, the world’s largest vaccine manufacturer by volume, the move aligns with its broader strategy to streamline operations while maintaining strategic partnerships.
“Their experience in healthcare investing and global network make them a strong partner,” said Adar Poonawalla, CEO of Serum Institute.
Advisors on the deal were Jefferies and AZB & Partners, while J. Sagar Associates handled the legal aspects of the transaction.
Edited by Swetha Kannan