SII announces joint venture for pharma packaging with German company
With this, SII will be able to secure a supply of high-quality pharma packaging amid rising global demand
Pune-based Serum Institute of India has bought the 50 percent stake in the Indian joint venture SCHOTT Kaisha of Germany’s specialty glass company from former co-owners Kairus Dadachanji and Shapoor Mistry, the company said in a statement.
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.
CEO Serum Institute of India Adar Poonawalla 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.”
SCHOTT is looking forward to the cooperation with the new partner. CEO SCHOTT Frank Heinricht, says, “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.”
The joint venture will definitely continue to supply its customers in India and abroad as a reliable partner, says new Managing Director and former longstanding Head of Operations Eric L’Heureux.
“We have significantly increased our production capacity in India. Over the last three years we have invested roughly INR 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.”