Gland Pharma to invest $21 million for 60% Novelstar Pharma stake
Business
Gland Pharma is putting $21 million into its US arm to grab a 60% share of Novelstar Pharma, aiming to strengthen its position in the American pharma scene.
The deal should wrap up by October 31, 2026.
Once done, Novelstar's share capital will jump to $35 million, with Fosun Pharma USA holding the other 40%.
Gland Pharma announces board changes
Alongside the investment news, Gland Pharma announced some board changes:
Wenjie Zhang has stepped down as a non-executive, non-independent director as of October 1, 2026.
Xingli Wang, president of Fosun Pharma, is set to join as an additional non-executive, non-independent director (pending shareholder approval), and Dr. Jia Ai Zhang has joined a key board committee after some restructuring.