Germany’s speciality glass company Schott has a new partner: the Serum Institute of India (SII), the world‘s largest vaccine producer and manufacturer of biologics.
SII has bought a 50% stake in the Indian joint venture Schott Kaisha from former co-owners Kairus Dadachanji and Shapoor Mistry.
The joint venture is an Indian manufacturer of pharma packaging products such as vials, syringes, ampoules and cartridges used to package life-saving medications.
With this acquisition, Serum said it was securing its supply of pharma packaging amid rising global demand.
Adar Poonawalla, CEO Serum Institute of India says: “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.”
Dr. Frank Heinricht, CEO Schott said: “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.”
The joint venture will continue to supply its customers in India and abroad, said Eric L’Heureux, the new Managing Director and former longstanding Head of Operations.
“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.”