Glenmark Pharma soars 10%, hits 52-week high on cancer drug licensing deal

At 09:30 AM, Glenmark Pharma shares were trading at ₹2,094.40, up by 10 per cent on the National Stock Exchange.

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.