Gland Pharma to Acquire Its US Subsidiary

Gland Pharma Limited has approved the acquisition of 100% of the equity share capital of Gland Pharma USA Inc. from Gland Pharma International Pte. Ltd., another wholly owned subsidiary of the company. The transaction, approved by the Board on September 13, 2026, involves a cash consideration of US$501,208. Following completion, Gland Pharma USA will become a direct wholly owned subsidiary of Gland Pharma, instead of remaining a step-down subsidiary. The primary objective of the transaction is to simplify Gland Pharma's corporate structure by removing multiple layers of ownership. The company has stated that the acquisition is not expected to have any material impact on its business or operations. The transaction is classified as a related-party transaction and will be conducted on an arm's-length basis, with the consideration determined by an independent valuer. The required approvals from the Audit Committee and Board have been obtained. Gland Pharma USA was incorporated in March 2022 and operates in the pharmaceutical sector, with its principal activity being the marketing and distribution of pharmaceutical products in the United States. The US subsidiary reported turnover of approximately US$87,342 in FY25, compared with US$483,808 in FY24, while it reported nil turnover in FY26. Gland Pharma expects to complete the acquisition by October 31, 2026.