Glenmark Pharma Shares Soar 10%, Hit Upper Circuit On Massive $1.9B Licensing Deal With AbbVie For Cancer Drug
Glenmark: The share market charts are going crazy over pharma sector, did you see Glenmark Pharma’s shares blast off with a whopping 10% surge TODAY?
Nope, this isn’t your usual market jumper! Glenmark’s subsidiary, Ichnos Glenmark Innovation (IGI), just sealed a jaw-dropping global licensing deal with pharma heavyweight AbbVie.
Why is this a big deal deal?
ISB 2001 — a shiny, promising drug candidate in phase 1 trials targeting multiple myeloma, a nasty cancer that’s notoriously tough to crack. And get this: Glenmark just pocketed a staggering $700 million upfront, with the chance to rake in another $1.225 billion in milestone bonuses. Yep, you read that right! Curious how this game-changing deal could rewrite Glenmark’s future—and your portfolio? Buckle up, because we’re diving deep into this blockbuster pharma move.
Glenmark Pharma’s shares have been on a roll, climbing over 14% in just five days and a whopping 51% over the last year. Investors are buzzing! But here’s the twist: Nomura keeps a “neutral” stance, pegging the target price at Rs 1,500, which is 21% below the current Rs 1,904. Why the caution? Despite the excitement over Glenmark’s blockbuster licensing deal, the biggest by any Indian pharma — Nomura feels the stock might take a breather, and marked it ‘Neutral’.
AbbVie gets exclusive rights to develop, manufacture, and sell ISB 2001 in North America, Europe, Japan, and China — the big leagues in pharma. Glenmark, meanwhile, will cover the Emerging Markets, including Asia (except Japan and China), Latin America, Russia/CIS, the Middle East, Africa, Australia, New Zealand, and South Korea. This strategic global division lets both companies leverage their strengths and regional expertise. It’s like a perfectly choreographed dance in the global pharma arena.
| Detail | Information |
|---|---|
| Upfront Payment | $700 million |
| Potential Milestones | Up to $1.225 billion |
| Royalties | Tiered, double-digit percentage |
| AbbVie Markets | North America, Europe, Japan, China |
| Glenmark Markets | Emerging Markets & Asia excl. Japan |
This deal packs serious financial muscle. Glenmark’s subsidiary scores USD 700 million upfront, with potential milestone payments topping $1.225 billion. On top of that, Glenmark earns tiered, double-digit royalties on net sales. The deal makes headlines as the largest licensing agreement by an Indian pharma company, exceeding expectations. The stock has responded accordingly, climbing 14% in five days and over 28% in one month. Investors can’t help but watch closely as this partnership unfolds.
ISB 2001 isn’t just another drug, it’s already earned its superhero cape with the FDA’s orphan drug status and fast-track designation, zooming straight into the fight against multiple myeloma, a tough cancer that’s been hard to crack. This little molecule is no ordinary player; it’s part of a cutting-edge crew called multispecific antibodies, think of them as the Avengers of immuno-oncology — designed to hit multiple targets at once and deliver a knockout punch to cancer cells.
AbbVie’s own Dr. Roopal Thakkar sums it up: “Multispecifics including trispecific antibodies represent a new frontier in immuno-oncology.” Meanwhile, Glenmark’s CEO Cyril Konto calls this deal “a defining milestone”, the kind of breakthrough that fast-tracks hope and innovation for patients craving better options. With ISB 2001 leading the charge, the future of cancer treatment just got a whole lot brighter.
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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