Serum Institute of India, the largest vaccine producer and manufacturer of biologics, has bought the 50% stake in the Indian packaging joint venture SCHOTT Kaisha from former co-owners Kairus Dadachanji and Shapoor Mistry.
The joint venture between Germany’s specialty glass company SCHOTT AG and Indian group Kaisha, manufactures 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, said a company statement.
“Even the best medication can’t reach the patient without the right packaging,” said Adar Poonawalla, CEO Serum Institute of India.
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, he added.
“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,” said Frank Heinricht, CEO SCHOTT.
Over the last three years, SCHOTT has invested roughly Rs 600 crore to set up two new plants in Umarsadi, Gujarat and Baddi, Himachal Pradesh.
On the packaging end, SCHOTT has delivered vials for more than 2 billion vaccine doses through 2021. The company is providing glass vials globally to key vaccine manufacturers.
