Latest news with #ISB-2001
Time of India
2 days ago
- Business
- Time of India
Top stocks to buy: Stock recommendations for the week starting July 14, 2025
Top stocks to buy (AI image) Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting July 14, 2025) are Suzlon, and Glenmark Pharma. Let's take a look: Stock Name CMP (Rs) Target (Rs) Upside (%) Suzlon 66 82 24% Glenmark 2175 2430 12% Suzlon Suzlon new order outlook remains healthy with expected order inflow of ~4GW in FY26, including potential ~1.5GW NTPC orders, which implies total potential OB of ~6.5GW by FY26 end. EPC share is likely to rise from 20% now to ~50% in the medium term, improving execution visibility. Revised list of Models & Manufacturers (RLMM) mandating local content for key components in wind turbines is likely to be formally adopted in 2QFY26. Gradual Inter-state transmission system (ISTS) waiver phase-out will support smoother project execution. Suzlon stands to benefit from proactive land acquisition and EPC expansion initiatives. Cash conversion cycle is expected to improve by 30-35 days which will enhance balance sheet strength & generate higher free cash flow, supporting sustainable RoEs. Glenmark Pharma Glenmark's subsidiary Ichnos Glenmark Innovation (IGI) has signed an exclusive licensing agreement with AbbVie, a diversified biopharma leader, for its oncology product ISB-2001, validating clinical & commercial potential of IGI's BEAT® protein platform. The $700m upfront—world's 4th largest payment—along with $1.2b in milestones, boosts R&D monetization. Tiered double-digit royalties offer annuity income, while ANDA pipeline expansion & domestic reset further support growth. AbbVie will commercialize ISB-2001 in developed markets, while Glenmark retains rights in emerging markets. Improved leverage and a domestic reset underpin 11%/17%/20% sales/EBITDA/PAT CAGR over FY25-27. We add INR470/share NPV to arrive at a TP of INR2,430, supported by its pivot toward innovation-led growth. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
4 days ago
- 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
4 days ago
- 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
Business Standard
27-04-2025
- Business
- Business Standard
Glenmark's research arm will be self-funded soon, says Glenn Saldanha
Pharma major evaluating opportunities to out-license key cancer asset ISB-2001, deal likely in H1CY25 Premium Sohini Das Mumbai Listen to This Article Pharma major Glenmark's innovation and research arm will soon be self-funded, as the Mumbai-headquartered company is looking to out-license one of its key cancer assets (ISB-2001) within the next few months. The company's Chairman and Managing Director Glenn Saldanha told Business Standard that post the deal, Glenmark would not need to fund its innovation arm Ichnos Glenmark Innovation (IGI) anymore. 'Very clearly we are hoping to conclude something in this year and post that, IGI will be self-funded and adequately funded to support its research and development (R&D) activities going forward,' Saldanha said. He has fought a long battle
