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Gland Pharma Invests $21 Million in US Drugmaker, Acquires 60% Stake in Novelstar Pharma
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CNBC TV18•01-10-2026, 16:29
Gland Pharma Invests $21 Million in US Drugmaker, Acquires 60% Stake in Novelstar Pharma
- •Gland Pharma's board approved a $21 million investment in its US subsidiary, Gland Pharma USA Inc., to acquire a 60% stake in newly incorporated Novelstar Pharma Inc.
- •The investment aims to expand Gland Pharma's business in the US, with the transaction expected to be completed by October 31, 2026.
- •Once completed, Novelstar Pharma will become a subsidiary of Gland Pharma USA and a step-down subsidiary of Gland Pharma.
- •Gland Pharma USA will hold 60% of Novelstar, while Fosun Pharma USA, a subsidiary of Shanghai Fosun Pharmaceutical Group, will hold the remaining 40%.
- •Gland Pharma also announced board changes, with Xingli Wang appointed as an additional non-executive, non-independent director, replacing Wenjie Zhang.
Key Questions Answered
Gland Pharma's board approved a $21 million investment in its US subsidiary, Gland Pharma USA Inc., to acquire a 60% stake in Novelstar Pharma Inc.
Fosun Pharma USA, a wholly owned subsidiary of Shanghai Fosun Pharmaceutical Group and a fellow subsidiary of Gland Pharma promoter Fosun Pharma Industrial, will hold the remaining 40% stake in Novelstar Pharma.
Xingli Wang was appointed as an additional non-executive, non-independent director starting October 1, following the resignation of Wenjie Zhang due to pre-occupations.
