Glenmark Pharma Share Price Soars 15% After Record-Breaking Licensing Deal with AbbVie

Market Performance

Glenmark Pharma share price witnessed a sharp rally of 15% on July 11, reaching a 52-week high of ₹2,189.60. The stock initially breached the 10% upper circuit in early trading and continued to surge, eventually reaching the 15% limit.

Over various time frames, Glenmark Pharma has demonstrated significant bullish momentum:

• 5-day gain: Over 14%
• 1-month gain: More than 28%
• 6-month gain: Around 40%
• 1-year gain: Over 51%

Main News

Glenmark Pharmaceuticals announced a landmark licensing agreement with New York-based AbbVie through its subsidiary, Ichnos Glenmark Innovation (IGI).

At the center of the deal is ISB 2001, Glenmark’s experimental cancer therapy currently undergoing Phase I trials for relapsed or refractory multiple myeloma, a challenging blood cancer.

Key Deal Highlights:

• AbbVie's Rights:
  • Development
  • Manufacturing
  • Commercialization of ISB 2001 in:
    • North America
    • Europe
    • Japan
    • China
• Glenmark's Rights:
  • Development and commercialization in:
    • Asia (excluding Japan and China)
    • Latin America
    • Russia/CIS
    • Middle East
    • Africa
    • Australia
    • New Zealand
    • South Korea

The agreement was executed by IGI Therapeutics SA, a wholly owned subsidiary of Ichnos Glenmark Innovation, Inc., under the Glenmark Pharmaceuticals umbrella.

Company Details

ISB 2001 is a cutting-edge trispecific antibody-based drug from Glenmark's BEAT® protein platform. It aims to simultaneously engage multiple cancer targets, a method believed to be more effective in treating resistant cancer types.

The US FDA has granted:

• Orphan Drug Designation – July 2003
• Fast Track Status – May (for relapsed or refractory multiple myeloma)

Glenmark's innovation in multispecific therapies places it among the frontrunners in immuno-oncology, with ISB 2001 marking a significant scientific milestone for the company.

Financial Deal Breakdown

The licensing agreement marks one of the largest ever signed by an Indian pharmaceutical company.

Financial Structure:

• Upfront Payment to IGI:
  • $700 million
• Milestone Payments (Development + Regulatory + Commercial):
  • Up to $1.225 billion
• Royalties:
  • Tiered, double-digit percentage on net global sales of ISB 2001

This multi-billion-dollar collaboration establishes Glenmark's credibility on the global stage, especially in the domain of cancer research and biologics.

Summary of the Article

Glenmark Pharma share price surged 15%, touching a new high of ₹2,189.60, following the announcement of a global licensing agreement with AbbVie for its investigational cancer therapy, ISB 2001.

The deal includes a massive $700 million upfront and potential $1.225 billion in milestone-based payments, in addition to double-digit royalties on sales. The partnership grants AbbVie rights in major markets, while Glenmark will spearhead commercialization in emerging regions.

Backed by FDA designations and a breakthrough trispecific antibody platform, ISB 2001 strengthens Glenmark's position in next-generation oncology treatments. The stock's recent surge reflects strong investor sentiment following this historic announcement.