Gland Pharma will invest USD 21 million (approximately ₹175 crore) in its wholly-owned US subsidiary, Gland Pharma USA Inc., to facilitate business expansion in the United States. The company also announced leadership changes with one director resigning and another appointed.

Gland Pharma |

Mumbai: Gland Pharma on Thursday, October 1, 2026, announced a USD 21 million (approximately ₹175 crore) investment in its wholly-owned US subsidiary, Gland Pharma USA Inc. The investment is aimed at expanding the company's business operations in the United States of America.

Novelstar Pharma Investment

Gland USA plans to use these funds to subscribe to 60 per cent of the equity share capital of Novelstar Pharma Inc., a newly incorporated company in the United States. Upon completion, Novelstar will become a step-down subsidiary of Gland Pharma.

Acquisition Timeline

The company expects to complete the acquisition of the 60 per cent equity share capital in Novelstar by October 31, 2026. This transaction is considered a related party transaction but is being undertaken at arm's length.

Subsidiary Details

Gland Pharma USA Inc. was incorporated on March 7, 2022, and reported a turnover of USD 483,808 for FY24 and USD 87,342 for FY25, with no turnover reported for FY26. Novelstar Pharma Inc. was incorporated on September 30, 2026, and has no prior business or turnover.

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Board Resignation

Wenjie Zhang (DIN: 10727581) resigned from his position as a non-executive and non-independent director, effective October 1, 2026. Zhang cited pre-occupations as the reason for his resignation.

New Appointment

Xingli Wang (DIN: 11899926) was appointed as an additional director (non-executive and non-independent director) of the company, effective October 1, 2026. The company will seek member approval for this appointment through a postal ballot and e-voting.

Committee Realignment

Following the board changes, the company’s committees have been realigned, effective October 1, 2026, to comply with Listing Regulations. Dr. Jia Ai Zhang was appointed as a member of the Stakeholders' Relationship Committee & Share Transfer Committee, replacing Wenjie Zhang.

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