Serum Institute Of India Acquires 50 Percent Stake In Pharma Packaging Firm Schott Kaisha
PUNE, India — Indian vaccine manufacturer and immuno-biologicals Serum Institute of India (SII) has acquired a 50 percent stake of Schott Kaisha to become Schotts joint venture partner and secure pharma packaging supply.
Serum Institute of India announced this acquisition on Aug. 17.
“Securing supply chain is of strategic importance. As a longtime customer, we use their vials, ampoules, and syringes to store vaccines, including Covidshield,” said Adar Poonawalla, CEO, Serum Institute of India, in a statement.
“Even the best medication can’t reach the patient without the proper 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 Covidshield. Working even closer together is in the best interest of global health,” he said.
Serum Institute of India bought the 50 percent stake in the Indian joint venture Schott Kaisha from former co-owners Kairus Dadachanji and Shapoor Mistry.
“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,” said Frank Heinricht, CEO of Schott.
Schott is a company that is providing glass vials globally to key vaccine manufacturers.
The fact that Schott has an integrated value chain, also covering the glass tubing the packaging is made of, further helped to secure the supply chain, Schott said.
“We have significantly increased our production capacity in India,” said Eric L’Heureux, the new Managing Director.
“Over the last three years, we have invested roughly INR 600 crores ($80.8 million) 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.”
“Working together in the joint venture opens a new chapter in the successful partnership of Serum and Schott,” the company said.
“The companies have had a strong business relationship — and both have been playing a crucial role during the pandemic.”
“From the onset of the Covid-19 outbreak, Serum rose to the challenge of developing and/or manufacturing live-saving vaccines, such as Covidshield and Covovax. To this day, the company has filled and delivered hundreds of millions of doses to India and the world,” the company said.
Schott also said that on the packaging end, it has already exceeded its target in delivering vials for more than 2 billion vaccine doses through 2021.
The company is providing glass vials globally to key vaccine manufacturers.
(With inputs from ANI)
Edited by Saptak Datta and Praveen Pramod Tewari