Serum Institute buys 50% stake in Schott Kaisha
Serum Institute of India has announced the purchase of a 50% stake in German-based glass packaging manufacturer Schott Kaisha.
21 Aug 2021 | By Abhishek Muralidharan
With this acquisition, Serum is aiming to secure the supply of high-quality pharma packaging amid rising global demand. The joint venture is set to bolster the production of pharma packaging products such as vials, syringes, ampoules and cartridges.
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 its expertise and global network. As a longtime customer, we use its vials, ampoules and syringes to store our vaccines including Covishield. Working even closer together is in the best interest of global health.”
Dr Frank Heinricht, CEO, Schott, said, “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.”
According to Eric L’Heureux, the new managing director and former head of operations at Schott Kaisha, the joint venture will continue to supply its customers in India and abroad as a reliable partner “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,” he said.
He added, “Both Schott and Serum are committed to investing further and will announce concrete plans as this partnership evolves.”
The packaging specialist claimed that it has exceeded its target to deliver vials for more than 2 billion vaccine doses throughout 2021.