Gland Pharma Ltd. has approved an investment of $21 million, equivalent to around Rs.183 crore, in its US subsidiary, Gland Pharma USA. The funds will be used to subscribe to a 60% stake in Novelstar, which will subsequently become a subsidiary of Gland Pharma USA.
The investment will expand Gland Pharma’s presence in the US pharmaceutical market. The transaction is part of the company’s strategy of building its international business through its US operations and associated investments.
