India’s leading vaccine manufacturer, Adar Poonawalla, has purchased a 50 percent stake in Bollywood’s Dharma Productions, a prominent film production company known for popular movies.
Poonawalla’s Serene Production is set to invest 10 billion rupees ($119 million) in Dharma Productions and its digital wing, Dharmatic Entertainment, according to a statement from his company.
Poonawalla, who also heads the Serum Institute of India (SII) – the world’s largest vaccine producer by volume – played a crucial role in manufacturing millions of Covid-19 vaccines for India and other countries during the pandemic.
His move into the entertainment sector comes at a time when Bollywood is facing challenges from local and global streaming platforms and recovering from the shutdown of cinemas during the pandemic.
Expressing his excitement, Poonawalla said, “I am delighted to partner with one of the most iconic production houses in India, alongside my friend Karan Johar. We aim to grow Dharma and reach even greater heights in the future.”
Karan Johar, one of India’s most famous producers and directors, is known for creating hit films like Kuch Kuch Hota Hai and Kabhi Khushi Kabhie Gham, both of which featured superstar Shah Rukh Khan. However, in recent years, many of Dharma Productions’ films have struggled at the box office.
Earlier reports indicated that Johar was in talks with major Indian conglomerates, including Reliance and RPSG (which owns the music label Saregama), to invest in his company.
Commenting on the new partnership, Johar said he would retain a 50% stake and emphasized that the collaboration “represents a perfect blend of our emotional storytelling and innovative business strategies.”
He added, “This opens up new opportunities to create content that resonates across borders and generations.”
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