{
  "id": 11174421,
  "title": "Gland Pharma To Invest ₹175 crore In US Subsidiary, Aims For Business Expansion",
  "url": "https://urgent.news/2026/10/01/gland-pharma-to-invest-175-crore-in-us-subsidiary-aims-for-business",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-01T10:49:57.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/gland-pharma-to-invest-175-crore-in-us-subsidiary-aims-for-business-expansion"
  },
  "original_language": "en",
  "account": "On October 1, 2026, pharmaceutical company Gland Pharma announced a significant investment of ₹175 crore (approximately USD 21 million) in its wholly-owned subsidiary, Gland Pharma USA Inc. This investment is part of the company's strategy to expand its business operations in the United States.\n\nThe funds will be used to acquire 60% of the equity share capital of Novelstar Pharma Inc., a newly established company in the United States. Upon the successful acquisition, Novelstar will become a step-down subsidiary of Gland Pharma. The company plans to finalize the acquisition by October 31, 2026.\n\nGland Pharma USA Inc., incorporated on March 7, 2022, reported a turnover of USD 483,808 for its first fiscal year (FY24) and USD 87,342 for its second fiscal year (FY25). However, there is no turnover data available for its third fiscal year (FY26). Novelstar Pharma Inc., incorporated on September 30, 2026, has no prior business or turnover record.\n\nFollowing the investment, Wenjie Zhang, a non-executive and non-independent director, resigned from his position as of October 1, 2026, citing pre-occupations as the reason for his departure. To fill the vacancy, Xingli Wang was appointed as an additional director on the same date.\n\nIn response to the board changes, the company's committees have been re-aligned to comply with Listing Regulations. Dr. Jia Ai Zhang was appointed as a member of the Stakeholders Relationship Committee and Share Transfer Committee, replacing Wenjie Zhang.\n\nThis transaction is considered a related party transaction but is being executed at arm's length. The company's share price surged by 12% to a four-year high following strong Q1FY27 results. The information provided is based on company exchange filings and is intended for informational purposes only. Investors are advised to conduct their own risk assessments before making any investment decisions.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}