17 August 2021 | News
Announce joint venture for pharmaceutical packaging
Serum Institute of India has bought 50% 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.”
"The joint venture will definitely continue to supply its customers in India and abroad as a reliable partner", says Eric L’Heureux, the new Managing Director and former longstanding Head of Operations