TPG to Acquire 35% Stake in SCHOTT Poonawalla from Serum Institute of India The transaction is expected to close in the first half of 2025.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Global investment firm TPG has entered into a binding agreement to acquire a 35% stake in SCHOTT Poonawalla Pvt Ltd, a leading drug packaging joint venture between Germany's SCHOTT Pharma and Serum Institute of India (SII), part of the Cyrus Poonawalla Group.
SCHOTT Pharma, which focuses on drug containment and delivery systems, announced the deal and confirmed it would retain its 50% stake in the JV. Serum Institute will continue to hold a minority interest after the transaction.
The deal is being funded by TPG Growth and co-investor Novo Holdings. Financial terms were not disclosed. The transaction is expected to close in the first half of 2025, subject to regulatory approvals and customary conditions.
SCHOTT Poonawalla manufactures critical packaging products such as vials, syringes, and cartridges—vital components in the injectable drug and vaccine ecosystem. The JV serves a growing pharmaceutical market driven by rising demand for biologics and vaccines.
"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 USD 246 billion in assets, considers healthcare a core investment theme. "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.
Adar Poonawalla, CEO of Serum Institute, added, "Their experience in healthcare investing and global network make them a strong partner."
Jefferies and AZB & Partners advised on the deal, with J. Sagar Associates handling legal aspects.
