Serum Institute buys 50% stake in packaging JV SCHOTT Kaisha
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