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The Hindu
a day ago
- 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.
Business Upturn
a day ago
- Business
- Business Upturn
Glenmark Pharma shares surge 10% after its subsidiary signs $700 million licensing deal with AbbVie for ISB 2001
By Aman Shukla Published on July 11, 2025, 09:15 IST Glenmark Pharmaceuticals witnessed a sharp 10% rise in its stock price during morning trade after announcing a major licensing agreement between its US-based innovation subsidiary, IGI Therapeutics SA, and global biopharma giant AbbVie (NYSE: ABBV). The deal focuses on IGI's lead investigational therapy, ISB 2001, developed using its proprietary BEAT® protein platform, targeting oncology and autoimmune disorders. As of 9:15 AM, the shares were trading 10.00% higher at Rs 2,094.40. As part of the exclusive global licensing deal, AbbVie will obtain rights to develop, manufacture, and commercialize ISB 2001 in key markets, including North America, Europe, Japan, and Greater China. Glenmark's IGI will receive an upfront payment of $700 million and stands to gain up to $1.225 billion in milestone-based payouts. Additionally, the agreement includes tiered double-digit royalties on net sales. Roopal Thakkar, M.D., Executive Vice-President, Research and Development and Chief Scientific Officer, AbbVie, stated, '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. This partnership with IGI reflects our unwavering commitment to advancing novel therapies for patients with multiple myeloma, a disease where significant unmet need remains despite recent progress.' Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Glenmark PharmaStock Market Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
News18
a day ago
- 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.
Economic Times
a day ago
- 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)
Time of India
2 days ago
- Business
- Time of India
Glenmark Pharma shares in focus after subsidiary licences cancer drug to AbbVie for $700 million upfront
Glenmark Pharmaceuticals shares will be in focus 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. 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. Live Events "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." 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)
