Near-term upsides 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

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 auto-immune diseases.

 

It also has the potential of ISB-2001 to treat relapsed and refractory multiple myelomas and underlines 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. This has improved the treatment for chronic lymphocytic leukaemia and other B-cell malignancies, generating