With this acquisition, Serum aims to secure its supply of pharma packaging amid rising global demand
Serum Institute of India has bought a 50% stake in the Indian joint venture Schott Kaisha from former co-owners Kairus Dadachanji and Shapoor Mistry. The joint venture manufactures pharma packaging products such as vials, syringes, ampoules and cartridges. With this acquisition, Serum aims to secure its supply of pharma packaging amid rising global demand.
Adar Poonawalla, CEO Serum Institute of India said: “Even the best medication can’t reach the patient without the right packaging. Securing this supply chain is of strategic importance. Schott is the perfect partner for us to do this because of their expertise and global network. As a longtime customer, we use their vials, ampoules and syringes to store our vaccines including Covishield. Working even closer together is in the best interest of global health.”
The companies have had a strong business relationship during the pandemic
Dr Frank Heinricht, CEO Schott says, “As India has steadily established its position as a global pharmaceutical hub, we are delighted to strengthen our footprint within the Indian pharma supply chain. We are looking forward to strong impulses from this partnership. It is an excellent example of shifting towards new cooperation models, with greater synergies between pharma manufacturing and packaging production.”
Eric L’Heureux, MD of Schott Kaisha, said: “We have significantly increased our production capacity in India. Over the last three years we have invested roughly INR 600 crores to set up two new plants in Umarsadi, Gujarat and Baddi, Himachal Pradesh, and to secure uninterrupted supply in our existing facilities during the pandemic.” Both Schott and Serum are committed to invest further and will announce concrete plans as this partnership evolves, they say.
The companies have had a strong business relationship during the pandemic. Serum has developed and manufactured vaccines such as Covishield and Covovax, while Schott has delivered vials for more than two billion vaccine doses through 2021 and provides vials globally.