Gland Pharma Ltd

Gland Pharma Limited announced the conclusion of an unannounced USFDA inspection at its Dundigal formulation facility, which took place from October 12-23, 2026. The inspection resulted in four Form 483 Observations, which the company described as procedural. Gland Pharma will submit corrective and preventive actions to the USFDA within the stipulated period. The company stated that the observations are neither repeated nor related to data integrity. Further details are provided in Annexure A.

Gland Pharma Limited has announced that its Board of Directors will convene on Friday, November 6, 2026. The primary agenda item is to consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter and half-year ended September 30, 2026. The trading window, previously closed on October 1, 2026, will reopen on November 9, 2026. An Investor/Analyst call is scheduled for the same day, November 6, 2026, at 18:30 IST.

Gland Pharma Limited announced significant board changes and an investment. Mr. Wenjie Zhang resigned as a Non-Executive & Non-Independent Director due to pre-occupations, with his resignation accepted immediately. Concurrently, Mr. Xingli Wang has been appointed as an Additional Director (Non-Executive & Non-Independent). The company also approved an investment of USD 21 million by its wholly-owned subsidiary, Gland Pharma USA Inc., into Novelstar Pharma Inc. This investment aims to facilitate business expansion in the United States, making Novelstar a step-down subsidiary of Gland Pharma. Board committees have been realigned following these changes.

Gland Pharma Limited's Board of Directors has approved an investment of USD 21 million in its proposed wholly-owned subsidiary, Gland Pharma USA Inc. (Gland USA). Gland USA will utilize these funds to acquire a 60% equity stake in Novelstar Pharma Inc. (Novelstar). This strategic investment aims to expand Gland Pharma's business operations in the United States. Upon completion, Novelstar will become a subsidiary of Gland USA and a step-down subsidiary of Gland Pharma. The filing also announced the resignation of Director Mr. Wenjie Zhang and the appointment of Mr. Xingli Wang as an Additional Director, leading to a realignment of Board Committees.

Gland Pharma Limited's Board of Directors approved an investment of USD 21 million in its wholly-owned subsidiary, Gland Pharma USA Inc. This investment will enable Gland USA to subscribe to 60% of the equity share capital of Novelstar Pharma Inc., making Novelstar a step-down subsidiary of Gland Pharma. The move is intended to facilitate business expansion in the United States. Additionally, the board accepted the resignation of Director Mr. Wenjie Zhang and appointed Mr. Xingli Wang as an Additional Director. Board committees have been realigned following these changes.

Fosun Pharma Industrial Pte. Ltd. has sold 98,97,000 equity shares of Gland Pharma Limited, reducing its total holding to 7,54,96,894 shares, representing 45.41% of the total diluted capital. The sale, conducted via the open market, resulted in a decrease of 6.00% in voting rights and 5.95% in diluted capital for Fosun Pharma. The transaction occurred on September 4, 2026. Gland Pharma's total equity share capital is 164,966,661 shares of ₹1 each.

Gland Pharma Limited has announced the closure of its trading window for dealing in the company's securities. This closure is in effect from Thursday, October 01, 2026, and will remain open 48 hours after the declaration of the Unaudited Financial Results for the quarter and half-year ending September 30, 2026. The specific date for the Board Meeting to approve these financial results will be communicated later. This measure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, aimed at preventing insider trading.

Mirae Asset Mutual Fund has reported the sale of 57,842 equity shares of Gland Pharma Ltd. The transaction, executed via open market on September 28, 2026, reduced Mirae Asset's shareholding in the company. Prior to this sale, Mirae Asset held 4,930,033 shares, representing 2.99% of Gland Pharma's total voting capital. Following the sale, their holding decreased to 4,872,191 shares, which constitutes 2.95% of the total voting capital. The sale amounted to a 0.04% reduction in their stake.

Gland Pharma Limited's Board of Directors has approved the acquisition of 100% equity share capital of Gland Pharma USA Inc. (Gland US) from its wholly-owned subsidiary, Gland Pharma International Pte. Ltd. This move will make Gland US a direct wholly-owned subsidiary of Gland Pharma Limited, simplifying the corporate structure by removing multiple layers. The acquisition is considered a related party transaction but is being conducted on an arm's length basis with a valuation by an independent expert. Gland US reported nil turnover for FY ending March 31, 2026, and has a share capital of USD 500,000. The company stated there is no material impact on its overall business or operations.

Gland Pharma Limited announced that its Board of Directors has approved the acquisition of 100% of the equity share capital of Gland Pharma USA Inc. (Gland US) from Gland Pharma International Pte. Ltd. Upon completion, Gland US will become a direct wholly-owned subsidiary. This move aims to streamline the corporate structure by removing multiple layers, with no material impact expected on the company's business or operations. The transaction is a related party transaction conducted on an arm's length basis, with prior approval from the Audit Committee and the Board.