Adar Poonawalla-led Serum Institute of India is said to be in advanced talks with global private equity firm TPG to sell a 40% stake in SCHOTT Poonawalla.
SCHOTT Poonawalla is a joint venture between Serum Institute and SCHOTT Pharma AG, with equal ownership, that specializes in primary glass packaging for the pharmaceutical and biotech industries.
Serum Institute is looking to realize the value of its investment made over three years ago. While negotiations are ongoing, it is uncertain whether a final agreement will be reached.