Glenmark Shares Hit 10% Upper Circuit: Signed Agreement with AbbVie for Cancer Drug

On July 11, 2025, Glenmark Pharma shares hit a 10% upper circuit at 2095.65 at 09:56 AM on BSE, and this gain turned to life-time high. This extensive gain in the Glenmark pharma shares follows the company's announcement that its innovation arm, Ichnos Glenmark Innovation (IGI), had signed an exclusive licensing agreement with AbbVie. The deal centers around IGI’s lead investigational candidate, ISB 2001, intended for the treatment of oncology and autoimmune disorders, further expanding AbbVie's oncology pipeline.

Scope of Agreement

As part of the agreement, IGI will partner with AbbVie, granting it exclusive global rights to develop, manufacture, and commercialise ISB 2001 in key markets including North America, Europe, Japan, and Greater China. Meanwhile, Glenmark Pharmaceuticals will retain the rights to develop, manufacture, and lead commercialisation efforts for ISB 2001 in emerging markets—covering the rest of Asia, Latin America, the Russia/CIS region, the Middle East, Africa, Australia, New Zealand, and South Korea.

This strategic alliance marks a pivotal milestone in IGI’s scientific journey, propelling ISB 2001 toward clinical realisation and reinforcing its commitment to advancing next-generation BEAT®-enabled therapies in the oncology space.

Management Take on Business Development

“Our collaboration with AbbVie and Glenmark reflects IGI’s mission to accelerate access to transformative multispecificsTM 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.”

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