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Business Standard
11-07-2025
- Business
- Business Standard
Glenmark Pharma soars on AbbVie licensing deal for cancer therapy ISB 2001
Glenmark Pharmaceuticals hit an upper limit of 10% to a record high of Rs 2095.65 after its subsidiary Ichnos Glenmark Innovation (IGI) unveiled a global commercialization strategy for its lead investigational oncology asset, ISB 2001. The announcement follows a major licensing agreement with U.S. biopharma giant AbbVie. Under the terms of the agreement, IGI will collaborate with AbbVie to develop, manufacture, and commercialize ISB 2001, a first-in-class trispecific T-cell engager designed to treat multiple myeloma. AbbVie will handle development and commercialization in North America, Europe, Japan, and Greater China. Glenmark Pharmaceuticals will take charge of manufacturing and marketing the therapy in Emerging Markets, including Asia (excluding key developed markets), Latin America, the Russia/CIS region, the Middle East, Africa, Australia, New Zealand, and South Korea. ISB 2001, currently in Phase 1 clinical development, targets BCMA and CD38 on myeloma cells and CD3 on T cells. Developed using IGI's proprietary BEAT protein platform, the asset is engineered to enhance efficacy even at low antigen expression levels while aiming to improve safety over traditional bispecific antibodies. Data presented at the 2025 ASCO Annual Meeting showed promising results: a 79% overall response rate and 30% complete/stringent complete response in a heavily pretreated patient population. The therapy has also received Orphan Drug Designation (July 2023) and Fast Track Designation (May 2025) from the U.S. FDA for relapsed/refractory multiple myeloma. With this landmark deal, Glenmark is poised to strengthen its footprint in the global oncology market while expanding patient access to next-gen immunotherapies across high-need regions. "Our collaboration with AbbVie and Glenmark reflects IGI's mission to accelerate access to transformative multispecifics for patients worldwide," said Cyril Konto, M.D., President, Executive Director and CEO of IGI. "AbbVie's reach in major markets combined with Glenmark's commercial strength in Emerging Markets, creates complementary access pathways for ISB 2001, a trispecific T-cell engager with promising potential in Multiple Myeloma." "At Glenmark, we are committed to expanding access to innovative cancer treatments across Emerging Markets where unmet need and growth potential intersect," said Christoph Stoller, President Europe and Emerging Markets, Glenmark Pharmaceuticals. "The addition of ISB 2001 is a natural evolution of our oncology strategy. With our deep commercial footprint, strong regulatory capabilities, and experience in launching breakthrough assets like BRUKINSA and TEVIMBRA in India, and rights to commercialize QiNHAYO (envafolimab), a PD-L1 checkpoint inhibitor, in Emerging Markets, we are well positioned to deliver impactful treatment option for patients with difficult-to-treat cancers through ISB 2001." Headquartered in New York, IGI is a global, fully integrated clinical-stage biotechnology company focused on developing innovative biologics in oncology. Glenmark Pharmaceuticals is a research‐led, global pharmaceutical company, having a presence across Branded, Generics, and OTC segments; with a focus on therapeutic areas of respiratory, dermatology and oncology. On a consolidated basis, Glenmark Pharmaceuticals reported a net profit of Rs 4.65 crore in Q4 March 2025 as against a net loss of Rs 1,218.28 crore in Q4 March 2024. Net sales rose 6.77% year-on-year to Rs 3220.13 crore in Q4 March 2025.
The Hindu
11-07-2025
- Business
- The Hindu
Glenmark Pharma shares surge after its U.S arm, AbbVie ink pact for investigational cancer drug
The share prices of Glenmark Pharmaceuticals surged 10% to ₹2,095.65 each, hitting the upper circuit in the process, as soon as markets opened on Friday (June 11, 2025) in the backdrop of an exclusive licensing agreement for investigational asset ISB 2001 between subsidiary Ichnos Glenmark Innovation Inc. (IGI) and NYSE-listed AbbVie. A first-in-class CD38×BCMA×CD3 Trispecific Antibody, ISB 2001 is being developed for oncology and autoimmune diseases. It is currently in Phase 1 clinical trial in patients with relapsed/refractory multiple myeloma (R/R MM), Glenmark said on June 10 in a release on IGI Therapeutics SA, a wholly owned subsidiary of the New York-based IGI and AbbVie. Under the terms of the agreement, AbbVie will receive exclusive rights to develop, manufacture, and commercialise ISB 2001 across North America, Europe, Japan and Greater China. $2 billion deal Subject to regulatory clearance, IGI will receive an upfront payment of $700 million and is eligible to receive up to $1.225 billion in development, regulatory, and commercial milestone payments, along with tiered, double-digit royalties on net sales, the company said. 'Multispecifics including trispecific antibodies represent a new frontier in immuno-oncology with the potential to deliver deeper, more durable responses by engaging multiple targets simultaneously,' said Roopal Thakkar, Executive Vice-President, Research and Development and Chief Scientific Officer, AbbVie. 'ISB 2001 exemplifies the potential of our BEAT protein platform to generate effective multispecifics that may overcome resistance and improve outcomes in hard-to-treat cancers,' said Cyril Konto, President and CEO of IGI.
News18
11-07-2025
- Business
- News18
Glenmark Pharma Soars 10% To Record High After AbbVie Cancer Drug Deal; Details
Last Updated: Shares of Glenmark Pharmaceuticals Ltd surged 10 per cent in early trade on Friday; Key points for investors Glenmark Share Price: Shares of Glenmark Pharmaceuticals Ltd surged 10 per cent in early trade on Friday, scaling a new all-time high of Rs 2,094 apiece, after the company announced a major licensing agreement involving its innovation subsidiary. In a regulatory filing post market hours on July 10, Glenmark said its step-down wholly-owned subsidiary, Ichnos Glenmark Innovation (IGI), had signed a global licensing pact with AbbVie. The investigational drug, ISB 2001, is currently undergoing Phase 1 clinical trials for patients with relapsed or refractory multiple myeloma, a form of blood cancer. Under the terms of the agreement, AbbVie will obtain exclusive rights to develop, manufacture, and commercialize ISB 2001 across key developed markets, including North America, Europe, Japan, and China. Glenmark will retain commercialization rights across emerging markets such as the rest of Asia, Latin America, Russia/CIS, the Middle East, Africa, Australia, New Zealand, and South Korea. Glenmark's IGI Therapeutics SA will receive an upfront payment of $700 million and may earn up to $1.225 billion in additional milestone payments tied to development, regulatory clearances, and commercial success. The deal also includes tiered, double-digit royalties on net sales. The US FDA granted ISB 2001 orphan drug designation in July 2023 and fast-track designation in May 2025 for treating relapsed or refractory multiple myeloma. These designations are expected to speed up the drug's development and approval process. Roopal Thakkar, M.D., EVP of R&D and Chief Scientific Officer at AbbVie, said, 'Multispecifics, including trispecific antibodies, are a new frontier in immuno-oncology. This partnership underscores our commitment to advancing novel treatments for multiple myeloma, where unmet medical needs still exist." Cyril Konto, M.D., President and CEO of IGI, added, 'ISB 2001 showcases the power of our BEAT® protein platform to create next-generation multispecifics™. This agreement is a defining moment in IGI's journey and accelerates the drug's path to patients." Stock Performance and Analyst Take Glenmark Pharma shares have surged over 14% in the past five sessions, 28% in one month, and more than 51% over the past year. Despite the rally, Nomura has maintained a 'Neutral' rating on the stock with a price target of Rs 1,500, implying over 21% downside from its previous close of Rs 1,904. The brokerage noted that the deal is the largest licensing agreement signed by an Indian pharmaceutical firm and exceeded its expectations in value. view comments First Published: July 11, 2025, 10:41 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
11-07-2025
- Business
- Business Standard
Glenmark Pharma soars 10%, hits 52-week high on cancer drug licensing deal
Glenmark Pharma share price today: Shares of Glenmark Pharma surged 10 per cent, recording a 52-week high of ₹2,094.40 on Friday, after the company's subsidiary firm, Ichnos Glenmark Innovation (IGI), inked an exclusive licensing agreement with AbbVie for the cancer drug, ISB 2001. At 09:30 AM, Glenmark Pharma shares were locked at the temporary upper limit of 10 per cent. In comparison, the Nifty50 was trading in the red territory, down by over 50 points, quoting 25,304.65. So far this calendar year, shares of the pharma company have witnessed a double-digit surge of 18.4 per cent. IGI and AbbVie Deal As per the agreement, IGI and AbbVie received rights to develop, manufacture and commercialise ISB 2001 across North America, Europe, Japan and Greater China. Whereas, Glenmark Pharmaceuticals will hold the commercialisation rights in emerging Market regions, which include the rest of Asia, Latin America, Russia, the Middle East, Africa, Australia, New Zealand and South Korea. 'Our collaboration with AbbVie and Glenmark reflects IGI's mission to accelerate access to transformative multispecificsTM for patients worldwide,' Cyril Konto, managing director and CEO of IGI, said in a company release. 'AbbVie's reach in major markets combined with Glenmark's commercial strength in Emerging Markets, creates complementary access pathways for ISB 2001, a trispecific T-cell engager with promising potential in Multiple Myeloma,' he added. IGI, a wholly owned subsidiary of Glenmark Pharma, is a global and fully integrated clinical-stage biotechnology firm. The company is specialised in developing innovative biologics in oncology. The company is currently headquartered in New York, US. About ISB 2001 In July 2023, the US FDA (Food and Drug Administration) gave ISB 2001 orphan drug status. Whereas, in May 2025, it was granted the fast-track status for treating patients with relapsed or hard-to-treat multiple myeloma. ISB 2001 is a first-of-its-kind drug that helps the immune system fight cancer by targeting proteins (BCMA and CD38) on myeloma cells and CD3 on T cells. It is currently in early Phase 1 trials for patients with advanced multiple myeloma.' Brokerage View- Motilal Oswal While the licensing deal offers Glenmark Pharma a significant commercial upside, Motilal Oswal believes the company also stands to gain from its robust pipeline. The Pharma company continues to strengthen its US generics portfolio in the respiratory and injectable segments. The brokerage firm is expecting a 23 per cent earnings compound annual growth rate (CAGR) over FY25-27 and has reiterated its 'Buy' rating on the stocks alongside a Sum-of-the-Parts (SOTP) target price of ₹2,430.
Economic Times
11-07-2025
- Business
- Economic Times
Glenmark Pharma hits 10% upper circuit, scales fresh 52-week high on $700 mn cancer drug deal
Glenmark Pharmaceuticals shares surged 10% to hit the upper circuit and a new 52-week high of Rs 2,095.65 on BSE on Friday, after its step-down, wholly owned subsidiary, Ichnos Glenmark Innovation (IGI), signed an exclusive global licensing agreement with US-based AbbVie for its experimental cancer drug, ISB 2001. ADVERTISEMENT ISB 2001, currently in Phase 1 clinical trials for relapsed or refractory multiple myeloma, will be jointly developed under the agreement. AbbVie will hold exclusive rights to develop, manufacture, and commercialise the drug in North America, Europe, Japan, and China. Glenmark will retain rights for emerging markets, including Asia (excluding Japan and China), Latin America, Russia/CIS, the Middle East, Africa, Australia, New Zealand, and South Korea. Under the agreement, IGI Therapeutics SA — a subsidiary of Ichnos Glenmark Innovation — will receive a $700 million upfront payment and is eligible for up to $1.225 billion in milestone payments, along with tiered, double-digit royalties on net sales. Also Read: Brokerages initiate coverage on Delhivery, 7 other stocks; up to 33% upside seen The US FDA granted ISB 2001 orphan drug designation in July 2023 and fast-track status in May 2025 for the treatment of relapsed or refractory multiple myeloma."Multispecifics like trispecific antibodies represent a new frontier in immuno-oncology," said Roopal Thakkar, EVP and CSO at AbbVie. "This partnership reflects our commitment to advancing novel therapies for patients with multiple myeloma, where unmet needs remain." ADVERTISEMENT Cyril Konto, MD, President and CEO of IGI, said, 'This agreement marks a defining milestone in IGI's journey. Our partnership with AbbVie accelerates ISB 2001's path to patients and strengthens our focus on the next generation of BEAT®-enabled assets.'Also Read: Vodafone Idea slides 57% in a year; analysts warn of further downside below Rs 6.30 (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
