M&A

M&A

Gland Pharma acquires direct stake in US unit for $500-K

BSE Announcement   Gland Pharma  

Hyderabad-based, publicly listed Gland Pharma is to acquire a 100% equity stake in Gland Pharma USA Inc (Gland US). The company will acquire the stake from its Singapore-based wholly-owned subsidiary, Gland Pharma International Pte. Ltd, for approximately USD 0.5 million in cash. The deal is intended to simplify the company’s corporate structure.Gland US is a marketing and distribution firm for pharmaceutical products.