Synopsis: The company’s subsidiary, IGI signed a $1.225 billion licensing deal with AbbVie for ISB 2001. Strong FY25 growth, global expansion, and return to profitability further boosted investor confidence.
The shares of the prominent pharmaceutical company broke the upper band, gained up to 15 percent in today’s trading session after the company’s subsidiary of Ichnos Glenmark Innovation Inc., entered into a major licensing deal with AbbVie.
With a market capitalization of Rs 59,139.41 crore, the shares of Glenmark Pharmaceuticals Ltd were trading at Rs 2,095.65 per share, increasing around 10 percent as compared to the previous closing price of Rs 1905.15 apiece.
The shares of Glenmark Pharmaceuticals Ltd have seen bullish movement after IGI Therapeutics SA, a subsidiary of Ichnos Glenmark Innovation Inc., has entered into a major licensing deal with AbbVie for its lead oncology and autoimmune drug candidate, ISB 2001. This agreement grants AbbVie exclusive rights across key global markets, including North America and Asia. Further, ISB 2001 is currently undergoing a Phase 1 clinical trial in patients with relapsed or refractory multiple myeloma (R/R MM).
Moreover, the deal strengthens IGI’s position in biologics innovation, with $700 million in upfront payment and potential milestones totaling $1.225 billion. Additionally, IGI will earn tiered, double-digit royalties on net sales, marking a significant monetization of its BEAT protein platform and boosting Glenmark’s strategic global footprint in biotech collaborations.
“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.”
Looking forward to the company’s financial performance, revenue increased by 6 percent from Rs 3,062.96 crore in Q4FY24 to Rs 3,256.20 crore in Q4FY25. Further, during the same time frame, net loss turned into profit from a loss of Rs 1,214.27 crore to a profit of Rs 4 crore.
In FY25, Glenmark achieved leadership in India across dermatology, respiratory, and cardiac segments. RYALTRIS expanded to 45+ global markets. The European business grew 17.6% YoY. IGI shared early ISB 2001 trial data at ASH, and WINLEVI® gained UK MHRA approval, marking a strong global presence and clinical progress in key therapeutic and innovation areas.
Glenmark Pharmaceuticals Limited is an India-based global pharmaceutical company. The Company is focused on building a global formulation business with branded, generics, and over-the-counter (OTC) segments in the therapy areas of dermatology, respiratory and oncology.
Written by Abhishek Singh
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