Glenmark shares acquire 2% as agency receives $700 million upfront fee from AbbVie deal

Shares of Glenmark Prescribed drugs gained as a lot as 2% to the touch an intraday excessive of Rs 2,089 on the NSE after the corporate introduced that its subsidiary, Ichnos Glenmark Innovation, has acquired $700 million in upfront fee from AbbVie.

“The fee is in accordance with the agreed contractual phrases and is being made in the direction of an unique international licensing settlement for IGI’s lead investigational asset, ISB 2001 throughout North America, Europe, Japan, and Higher China markets,” the corporate mentioned in a regulatory submitting.

It is usually eligible to obtain as much as $1.2 billion in improvement, regulatory, and industrial milestone funds, together with tiered, double-digit royalties on internet gross sales of the asset.

In July, Ichnos Glenmark Innovation (IGI) signed an unique international licensing pact with US-based AbbVie to develop and commercialise IGI’s progressive drug ISB 2001 used for treating a uncommon type of blood most cancers.

Glenmark mentioned it should develop, manufacture, and lead commercialisation efforts of ISB 2001 in rising markets together with the remainder of Asia, Latin America, the Russia/CIS area, the Center East, Africa, Australia, New Zealand and South Korea. AbbVie will get these rights solely for North America, Europe, Japan, and Higher China.

Quarterly efficiency

Glenmark Pharma reported an 86% year-on-year (YoY) decline in consolidated internet revenue for the primary quarter of FY26, whilst income remained largely flat and the North America enterprise confirmed indicators of restoration.

Glenmark reported a consolidated internet revenue of Rs 46.87 crore for the June quarter, in contrast with Rs 340.27 crore in the identical interval final 12 months.

At about 9:25 am, shares of the corporate have been buying and selling at Rs 2,083, larger by 1.65% from the final shut. Glenmark shares have risen practically 50% within the final six months.

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