Latest news with #BEAT
Yahoo
2 days ago
- Health
- Yahoo
John Swinney pays tribute to Scottish woman who lost battle with anorexia aged 20
First Minister John Swinney has paid tribute to a young Scottish constituent who sadly lost her battle with anorexia earlier this year. The first minister attended a charity park run, which was organised by the family of Rachel Bywater from Aberfeldy, to raise funds for BEAT, the UK's leading charity supporting those affected by eating disorders, reports The Record. Swinney joined the family of Rachel, who sadly died on May 17 this year aged just 20 years old, at the event which has raised an amazing £7,500 for the charity. READ MORE: Netflix viewers rush to watch 'compelling' BBC drama series set in Edinburgh READ MORE: Edinburgh's first 'queer cafe' announces closure as owners say 'this is only the beginning' The MSP for Perthshire North shared a snap of the group together sporting their, 'Run for Rachel' t-shirts and wrote: "A special privilege to join the family of Rachel Bywater - one of my constituents who faced an eating disorder and sadly died recently aged only 20 - to run a 5k and raise funds for Beat (Eating Disorders). "Wonderful to see so many in the #Aberfeldy community supporting today." Her father Dave Bywater added: "Thank you John, it was great to have your support and that of the community. 'I hope everyone who reads these posts can realise there is a family behind this who are suffering a tragic loss, and ignore the offensive responses you have received." Join Edinburgh Live's Whatsapp Community here and get the latest news sent straight to your messages. Ahead of the event her family wrote: "We will be installing a new bench on the River Bank for Rachel Bywater, who very sadly passed away on May 17th this year. "To mark the occasion a fund raiser will be held on the Sunday to raise funds for BEAT (Eating Disorders). All you have to do is walk, jog or run 1, 2 or 3 laps of the FeldyRoo Fitness Trail. "The choice is yours, all we want is everyone to get involved. You can fill in an entry form and pick up sponsorship form at any of the pubs - Fountain, Black Wach or Schiehallion. "Entry is totally free but raised sponsorship or donations on the day would be really appreciated no matter how little or large."
Daily Record
2 days ago
- Health
- Daily Record
John Swinney pays tribute to woman who lost battle with anorexia aged 20
The MSP for Perthshire North shared a snap of the group together sporting their, 'Run for Rachel' t-shirts. John Swinney has paid tribute to a young constituent who sadly lost her battle with anorexia earlier this year. The first minister attended a charity park run, which was organised by the family of Rachel Bywater from Aberfeldy, to raise funds for BEAT, the UK's leading charity supporting those affected by eating disorders. Swinney joined the family of Rachel who sadly died on May 17 this year aged just 20-years-old at the event which has raised an amazing £7,500 for the charity. The MSP for Perthshire North shared a snap of the group together sporting their, 'Run for Rachel' t-shirts and wrote: "A special privilege to join the family of Rachel Bywater - one of my constituents who faced an eating disorder and sadly died recently aged only 20 - to run a 5k and raise funds for Beat (Eating Disorders). "Wonderful to see so many in the #Aberfeldy community supporting today." Her father Dave Bywater added: "Thank you John, it was great to have your support and that of the community. 'I hope everyone who reads these posts can realise there is a family behind this who are suffering a tragic loss, and ignore the offensive responses you have received." Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. Ahead of the event her family wrote: "We will be installing a new bench on the River Bank for Rachel Bywater, who very sadly passed away on May 17th this year. "To mark the occasion a fund raiser will be held on the Sunday to raise funds for BEAT (Eating Disorders). All you have to do is walk, jog or run 1, 2 or 3 laps of the FeldyRoo Fitness Trail. "The choice is yours, all we want is everyone to get involved. You can fill in an entry form and pick up sponsorship form at any of the pubs - Fountain, Black Wach or Schiehallion. "Entry is totally free but raised sponsorship or donations on the day would be really appreciated no matter how little or large."
Mint
14-07-2025
- Business
- Mint
Sacrifices, trade-offs behind big win, says Glenmark's Saldanha
The road to drug discovery is long, arduous and littered with failure, but the payoff at the end makes it worth the trouble. It's a lesson that India's best pharmaceutical entrepreneurs knew all along. Yet, it took a Glenn Saldanha to prove it. 'We were always resilient in how we approached innovation. I think that's what finally rewarded us," Saldanha, chief executive officer and managing director of Glenmark Pharmaceuticals Ltd, told Mint in an exclusive interview. He was referring to one of the largest deals for an Indian biopharma firm after Glenmark's US-based unit Ichnos Glenmark Innovation (IGI) secured a $700-million exclusive licensing agreement with AbbVie for its blood cancer drug candidate last week. AbbVie will also pay as much as $1.23 billion as various milestones are completed, as well as tiered, double-digit royalties on net sales. ISB 2001, the investigational drug to treat multiple myeloma, is in phase-1 clinical trials and has shown promising data. In a trial with 35 patients who had exhausted all existing lines of therapy unsuccessfully, 79% showed a clinical response to it, and 30% were cancer-free. 'I hope this acts as a catalyst to expanding the innovation landscape in India…we've demonstrated that you can do it," said Saldanha. Last bet ISB 2001, developed on IGI's proprietary BEAT platform, was the firm's last bet. 'There was no plan B," said Saldanha. 'This was pretty much the end of the road. At this point, the technology had to demonstrate that it worked…or we don't know what we would have done as the next thing." The drug had been in discovery over the last five years, while the company had been working on the BEAT platform for about a decade. There were three other assets that the company stopped developing. ISB 2001 has received both the US FDA Orphan Drug and Fast Track designations, highlighting its Orphan Drug designation is given to drugs treating rare diseases, while a fast track designation intends to expedite the development and review of drugs for treating serious conditions and fill unmet medical needs. Following the licensing agreement, AbbVie will take over further development for phase-2 and phase-3 trials before it can file for regulatory approval. The process would typically take four to five years. The market size for multiple myeloma is estimated to grow to $50 billion by 2030. Should the drug hit the markets in 2030, taking into account the tiered double-digit royalties, Glenmark stands to earn an additional $2.02 billion in royalties until 2041, according to research by brokerage Nuvama. The deal validates several aspects of Glenmark, including the strength of IGI's BEAT platform, the potential for ISB 2001 to treat relapsed/refractory multiple myeloma, and its commercial viability following successful clinical trials, said an 11 July note by Motilal Oswal analysts. 'Moreover, AbbVie has established itself as a diversified biopharma leader, combining scientific innovation with strong commercial execution. In oncology, the company has built a robust presence anchored by two cornerstone therapies: Imbruvica, a BTK inhibitor, and Venclexta, a BCL-2 inhibitor. These medicines have transformed the treatment landscape for chronic lymphocytic leukemia and other B-cell malignancies, generating multi-billion-dollar revenues and reinforcing AbbVie's reputation as a pioneer in hematologic cancer," the note added. Huge sacrifices, trade-offs Saldanha has bet on innovation since he took the reins of the company in the late 90s. A few years after Glenmark was listed in 2000, it established its first R&D centre for novel biologics research in Switzerland. Over the years, the company did a number of licensing deals with novel assets. In 2019, it spun off its R&D entity under a new company, Ichnos Sciences, which built on its proprietary BEAT bispecific platform. The two announced the creation of Ichnos Glenmark Innovation (IGI) in 2024. The company's focus on innovation created a lot of frustration for investors and stakeholders, Saldanha said. '[We were] bordering on being called eccentric," he said. The company also had to sell its stake in its active pharmaceutical ingredient (API) division, Glenmark Life Sciences, to pare its debt in 2023, which was approximately ₹4,500-4,600 crore. Glenmark sold 75% stake in the unit to industrial conglomerate Nirma for ₹5,650 crore. The company has made 'huge sacrifices, huge trade-offs," said Saldanha. With the GLS sale, the company had a choice to decide 'which end of the value chain we play", said Saldanha. 'Whether we play on this API stable end of the value chain, and generate revenues like that, or we play on the high end of the value chain, which is innovation." But innovation is not a cost game, he said. 'It's all about being able to understand where the therapy is going and how to come up with solutions." What's next for Glenmark? IGI spends about $70 million annually on new drug research. With the upfront payment it receives, it will be self-funded for the next three to four years, said Saldanha. The company will also look at rewarding shareholders with dividends. Apart from that, there are no immediate investment plans, said Saldanha. 'At least for the next year or two, we won't do anything. We'll just continue regrouping and trying to figure out strategically where we can further add value," he said. The deal is a big event for the company, which 'basically resets the whole agenda for the company", he said. 'We have to really reset and rethink how we want to see the company over the next five to ten years." ISB 2001's early success has validated the BEAT platform. 'We think we've now got it right with the technology…the idea is how can we exploit that technology much more effectively to add more products and do more," said Saldanha. The unit has another asset called ISB 2301, which is in late pre-clinical development and will go to the clinic next year. This drug will target solid tumours, said Saldanha. IGI also has a couple of other early-stage programs. '...over the next three, four years, we will exploit the technology as effectively as possible."
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Business Standard
11-07-2025
- Business
- Business Standard
Near-term upside from deal with AbbVie may be priced in Glenmark's stock
Glenmark's $700 million deal with AbbVie for ISB-2001 could unlock significant upside, though analysts note the potential is already priced in, with stock surging post-announcement premium Devangshu Datta Listen to This Article Glenmark Pharma (GNP) has just signed an exclusive licensing deal with AbbVie through its subsidiary, Ichnos Glenmark Innovation (IGI), for its lead investigational asset, ISB-2001. The deal could be transformative as it leverages IGI's BEAT protein platform for oncology and autoimmune diseases and the potential of ISB-2001 to treat relapsed and refractory multiple myelomas, underlining the commercial viability of ISB-2001 following successful clinical trials. AbbVie is considered a diversified biopharma leader. In oncology, it has built a robust presence anchored by cornerstone therapies, which have improved the treatment for chronic lymphocytic leukaemia and other B-cell malignancies, generating multi-billion-dollar
Time of India
11-07-2025
- Business
- Time of India
Motilal Oswal sees 28% upside in Glenmark Pharma, hails $700 mln cancer drug deal as ‘new era' for innovation play
Motilal Oswal has reiterated a 'buy' rating on Glenmark Pharmaceuticals with a raised target price of Rs 2,430, implying a 28% upside from the current market price of Rs 1,904, as it hailed the company's recent licensing deal with AbbVie as a turning point for its innovation-led strategy. The brokerage said the agreement—executed via Glenmark's subsidiary Ichnos Glenmark Innovation (IGI)—'validates several aspects' of the company's R&D platform and unlocks substantial commercial potential. The target price revision factors in an additional net present value (NPV) of Rs 470 per share from the deal, layered on top of 27x 12-month forward earnings from Glenmark's base business. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Co-live Units Starting from 42L+ | Whitefield Sumadhura Learn More Undo 'The deal validates several aspects of GNP: a) the strength of IGI's BEAT protein platform for oncology and auto-immune diseases; b) the potential of ISB-2001 to treat relapsed/refractory multiple myeloma; and c) the commercial viability of ISB-2001 following successful clinical trials and subsequent commercialization,' the brokerage noted. IGI has entered into an exclusive global licensing agreement with U.S.-based AbbVie for ISB-2001, a first-in-class trispecific T-cell engager currently undergoing Phase 1 trials. Under the agreement, IGI will receive an upfront payment of $700 million, contingent on regulatory approvals, and is eligible for up to $1.2 billion in milestone-based payouts, along with tiered, double-digit royalties on sales. Motilal Oswal pointed out that this is one of the largest licensing transactions globally in terms of upfront payment, ranking fourth in the pharma sector. 'Oncology accounts for the majority of global licensing deals,' it said, adding that ADCs, bispecifics, and protein degraders continue to command the highest deal premiums. Live Events Financial re-rating backed by growth outlook The brokerage expects Glenmark's consolidated revenue, EBITDA, and profit after tax to grow at a compound annual rate of 11%, 17%, and 20% respectively over FY25–27. These are expected to reach Rs 163 billion, Rs 33 billion, and Rs 20 billion by FY27. 'Over the past two years, GNP has: a) reduced its financial leverage; b) improved the commercial prospects of innovative R&D c) strengthened its ANDA pipeline for the US market; and d) undertaken a strategic reset in its domestic formulation business,' Motilal Oswal said. The brokerage said it estimates a 23% earnings CAGR over the next three years, driven by 10%/7%/12%/14% growth in the domestic, US, EU, and rest-of-world segments respectively, supported by a 200-basis-point margin expansion. Motilal Oswal called ISB-2001 'scientifically superior,' citing a higher overall response rate and complete/stringent complete response rate of 30% at active doses. The drug, which co-targets BCMA and CD38 antigens in multiple myeloma, has a favourable safety profile and aims to overcome resistance observed in BCMA-only therapies. The brokerage sees strong commercial prospects ahead. 'Backed by its superior treatment profile and AbbVie's robust commercial strength, ISB-2001 holds strong potential to emerge as a blockbuster drug in the RRMM space,' Motilal Oswal said. Glenmark Pharmaceuticals' shares surged 20% on Friday, buoyed by investor optimism following the AbbVie licensing deal. The rally marks one of the sharpest single-day gains for the stock in recent years and comes as the market absorbs the implications of what Motilal Oswal terms 'a new era' for the company's innovation pipeline. Also read | Glenmark Pharma hits 10% upper circuit, scales fresh 52-week high on $700 mn cancer drug deal
