SII acquires 50 per cent stake of SCHOTT Kaisha
Germany’s speciality glass company SCHOTT has partnered with Serum Institute of India and has bought a 50 per cent stake in the Indian joint venture SCHOTT Kaisha from former co-owners Kairus Dadachanji and Shapoor Mistry. The joint venture is the leading Indian manufacturer of pharma packaging products such as vials, syringes, ampoules and cartridges used to package life-saving medications. With this acquisition, Serum is securing its supply of high-quality 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. 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.”
SCHOTT is looking forward to cooperation with the new partner. 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.”
The joint venture will continue to supply its customers in India and abroad as a reliable partner, says Eric L’Heureux, the new MD and former longstanding Head of Operations.
“We have significantly increased our production capacity in India. Over the last three years, we have invested roughly Rs 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 investing further and will announce concrete plans as this partnership evolves.