India, May 6 -- Schott Pharma, a pioneer in drug containment and delivery solutions, has announced that TPG, a leading global alternative asset management firm, has entered into a binding agreement to acquire a 35% stake in its joint venture Schott Poonawalla from Serum Institute of India (SII).

Schott Poonawalla is a joint venture of Schott Pharma and SII, part of the Cyrus Poonawalla Group and a global leader in vaccine manufacturing, dedicated to providing affordable vaccines worldwide. TPG Growth, TPG's middle market and growth equity platform, is funding the investment, along with Novo Holdings as a co-investor. Following the transaction, SII will retain a minority stake in the company.

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