SCHOTT Pharma, a pioneer in drug containment and delivery solutions, announced that TPG, a leading global alternative asset management firm, has entered into a binding agreement to acquire a 35 percent stake in its joint venture SCHOTT Poonawalla from Serum Institute of India (SII).
SCHOTT Poonawalla is a joint venture of SCHOTT Pharma and SII, part of the Cyrus Poonawalla Group and a global leader in vaccine manufacturing, dedicated to providing affordable vaccines worldwide. TPG Growth, TPG’s middle market and growth equity platform, is funding the investment, along with Novo Holdings as a co-investor. Following the transaction, SII will retain a minority stake in the company.