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Glenmark Pharma shares jump 10% in pre-market trading
ByAinvest
Thursday, Jul 10, 2025 11:39 pm ET1min read
Glenmark Pharma shares jump 10% in pre-market trading
Glenmark Pharmaceuticals (GLEN) shares have experienced a significant increase in pre-market trading today, rising by 10% to ₹1,886.40. This marked a new high for the company's stock price, which has been on a notable upward trajectory since June 25. In the past 12 trading days, the stock has surged by 12%, and over the last two months, it has zoomed by 37% [1].The primary driver behind this surge is the approval and subsequent launch of Glenmark's lung cancer treatment drug, Tevimbra, in India. Tevimbra, developed by BeiGene (now BeOne Medicines), marks Glenmark's first foray into immune-oncology in India and is a significant milestone in expanding its innovative oncology portfolio. Immuno-oncology treatments offer promising prospects for the treatment of various advanced cancers [1].
Glenmark's stock performance has been bolstered by the positive reception of Tevimbra and the company's robust pipeline in respiratory and injectable segments across existing markets. Analysts at Choice Equity Broking expect growth to be driven by these factors, along with the expansion of key global brands into new geographies. Management has guided for 10 - 12% revenue growth in FY26 [1].
Moreover, Glenmark's recent GMP inspection by the USFDA resulted in five procedural observations, none of which were related to data integrity. The company is working closely with the USFDA to address these observations and expects to respond within the stipulated timeline [1].
Despite the positive outlook, Glenmark's stock currently trades above the target price of ₹1,670 per share set by brokerages. Motilal Oswal Financial Services expects continued growth in Glenmark's differentiated offerings in the US generics segment and superior execution in the EU/ROW markets, projecting sales and EBITDA growth over the next few years [1].
References:
[1] https://www.business-standard.com/markets/news/glenmark-hits-new-high-zooms-37-in-2-months-what-s-driving-pharma-stock-125071000412_1.html
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