Archive · 1 Oct 2026
Gland Pharma Invests ₹175 Crore in US Subsidiary Expansion
Gland Pharma plans to invest about ₹175 crore in its American subsidiary.
The money will help the subsidiary buy 60% of a new company called Novelstar Pharma.
Novelstar is based in the United States and was created on September 30, 2026.
It has not reported any business or sales yet.
Gland Pharma expects the purchase to be finished by October 31, 2026.
The transaction is between related companies but will be made at a fair market price.
One director, Wenjie Zhang, resigned because of other commitments.
Another person, Xingli Wang, was appointed as a new additional director.
Gland Pharma announced a USD 21 million, or approximately ₹175 crore, investment in its wholly owned US subsidiary.
Gland Pharma USA Inc. will use the funds to acquire 60% of newly incorporated Novelstar Pharma Inc.
The acquisition is expected to be completed by October 31, 2026, as an arm’s-length related-party transaction.
Novelstar Pharma was incorporated on September 30, 2026, and has no prior turnover or business operations.
Wenjie Zhang resigned as a director, while Xingli Wang was appointed an additional director effective October 1, 2026.
- Who
- Gland Pharma, its US subsidiary Gland Pharma USA Inc., Novelstar Pharma Inc., and the company’s directors.
- What
- Gland Pharma announced a USD 21 million investment and a planned purchase of 60% of Novelstar Pharma, alongside board changes.
- When
- The announcements and board changes took effect on October 1, 2026; completion of the acquisition is expected by October 31, 2026.
- Where
- The investment concerns Gland Pharma USA Inc. and Novelstar Pharma Inc. in the United States; Gland Pharma is headquartered in Mumbai according to the filing location.
- Why
- The investment is intended to expand Gland Pharma’s business operations in the United States.
- Investment
- USD 21 million, approximately ₹175 crore
- Investing entity
- Gland Pharma USA Inc., Gland Pharma’s wholly owned US subsidiary
- Target company
- Novelstar Pharma Inc.
- Ownership to be acquired
- 60% of Novelstar Pharma’s equity share capital
- Expected completion
- October 31, 2026
- Novelstar incorporation
- September 30, 2026; no prior business or turnover
- Board changes
- Wenjie Zhang resigned and Xingli Wang was appointed an additional director, effective October 1, 2026