The Serum Institute of India has bought 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, the companies said in a joint statement.
Speaking in this regard, 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 long-time 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 the cooperation with the new partner, the statement said.
Dr Frank Heinricht, CEO, SCHOTT, said, “As India has 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 definitely continue to supply its customers in India and abroad as a reliable partner, 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 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 invest further and will announce concrete plans as this partnership evolves, according to the statement.