Glenmark Share Price Jumps After Big Licensing Deal with AbbVie
Glenmark Pharma’s shares
From ₹1,430 to ₹1,900: Glenmark’s Strong Rally After Breakthrough Deal. Glenmark Share Price Jumps After Big Licensing Deal with AbbVie
On July 11, Glenmark Pharma’s shares surged by 10% after its subsidiary, Ichnos Glenmark Innovation (IGI), signed an exclusive licensing agreement with global biopharma giant AbbVie. The deal is for ISB-2001, a promising cancer drug candidate.
As part of the agreement, AbbVie will take charge of development and commercialization in major global markets, while Glenmark will keep the rights for India and several emerging markets.
Market analysts are upbeat about the move, predicting that Glenmark’s stock could climb another 26.5% following this positive development.
Glenmark’s Global Breakthrough Sends Shares Soaring
Glenmark Pharma’s Chairman and Managing Director, Glenn Saldanha, called the recent licensing deal with AbbVie a “huge achievement” for the company. He highlighted that ISB-2001 — the cancer drug at the center of the deal — is the result of over 25 years of global research and innovation by the Glenmark team.
The market clearly liked the news. Glenmark shares jumped 10% in early trade on July 11, following a 5.5% gain the day before. Since March 17, when it was around ₹1,430, the share price has climbed to nearly ₹1,900 — marking a sharp rise of about 36%. With strong investor sentiment and a global partnership in place, Glenmark’s momentum looks far from over.
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