Invesco India ETF: A Good Opportunity for Indian Equities but Not the Best Fund

The Invesco India ETF (PIN) tracks the FTSE India Index to provide exposure to quality Indian stocks. While Indian equities are considered a good opportunity, PIN is not the best fund. The portfolio focuses on quality stocks, but investors should evaluate other options based on their individual investment goals and risk tolerance.

The $1.93 billion licensing agreement between Glenmark Pharmaceuticals and AbbVie, announced in July 2025, signals a significant shift in the Indian pharmaceutical sector. This deal, which grants AbbVie exclusive rights to develop and commercialize ISB 2001—a trispecific T-cell engager targeting multiple myeloma—in key markets, while Glenmark retains rights to emerging regions, is more than just a financial coup. It represents a strategic pivot for Glenmark, moving from a generics-driven model to a biologics-first strategy [1].

The financial terms of the deal are substantial, with an upfront payment of $700 million and $1.225 billion in milestone payments tied to regulatory and commercial success, along with double-digit royalties on future sales. This structure not only de-risks Glenmark's R&D investment but also transforms its innovation arm, Ichnos Glenmark Innovation (IGI), into a self-funded entity [1].

The science behind ISB 2001's clinical potential is underpinned by Glenmark's proprietary BEAT® platform, which enables the design of stable, multi-specific antibodies. Early-phase data shows a 79% overall response rate and 30% complete response rate in heavily pretreated multiple myeloma patients, highlighting the drug's enhanced efficacy [1]. The drug has garnered Fast Track and Orphan Drug Designations from the FDA, accelerating its path to market.

The Glenmark-AbbVie deal has far-reaching implications for the sector. It validates that Indian firms can develop cutting-edge therapies that command premium pricing, incentivizing peers like Biocon and Sun Pharma to invest more in R&D. It also sets a template for alliances between Indian innovators and multinational pharma giants, unlocking access to capital and global markets [1].

Investors should evaluate the Invesco India ETF (PIN) and other options based on their individual investment goals and risk tolerance. While PIN tracks the FTSE India Index and provides exposure to quality Indian stocks, investors should consider the broader implications of the Glenmark-AbbVie deal when evaluating the sector's growth trajectory and valuation potential [2].

References:
[1] https://www.ainvest.com/news/generics-giants-glenmark-1-93b-deal-biotech-renaissance-indian-pharma-2507/
[2] https://www.invesco.com/etfs/investment-solutions/etfs/india-ftse-india-etf