Glenmark Pharmaceuticals Receives $700 Mn From AbbVie, Expects $1.2 Bln Milestone Payments

Glenmark Pharmaceuticals' shares rose 3% after the company confirmed receipt of a $700 million upfront payment from AbbVie under a global licensing deal for ISB 2001. The deal also includes potential milestone-based payments of up to $1.2 billion. The funds will be used to expand Glenmark's investigational pipeline and potentially distribute dividends to shareholders. ISB 2001 is currently in Phase 1 human trials for relapsed or refractory myeloma and has been granted orphan drug and fast-track designations by the US FDA.

Title: Glenmark Pharmaceuticals' Shares Rise 3% Following $700 Million Upfront Payment from AbbVie

Glenmark Pharmaceuticals' shares surged 3% on Tuesday, September 9, 2025, following the confirmation of a $700 million upfront payment from AbbVie under an exclusive global licensing agreement for ISB 2001. The deal, announced in July, includes potential milestone-based payments of up to $1.2 billion.

The funds will be utilized to expand Glenmark's investigational pipeline and potentially distribute dividends to shareholders. ISB 2001, developed using IGI's proprietary BEAT protein platform, is currently in Phase 1 human trials for relapsed or refractory myeloma and has been granted orphan drug and fast-track designations by the US FDA.

Following today’s gain, Glenmark stock is trading close to its one-month high of Rs 2,119.9 (9 September 2025), recovering sharply from its two-week low of Rs 1,904 hit on 1 September. The stock had earlier touched a 52-week high of Rs 2,284.8 on 11 July after the AbbVie licensing deal was first announced.

Glenmark expects ISB 2001 to potentially transform the multiple myeloma treatment space, a segment projected to reach $50 billion by 2030. If clinical timelines stay on track, the molecule could take another four to five years to reach commercialization. The asset will compete with therapies already launched by Pfizer and Johnson & Johnson in this category.

The company also stated that ISB 2001 is currently the only trispecific antibody of its kind in development, with clinical responses seen even in patients previously treated with BCMA CAR-T therapy. Glenmark maintains that trispecifics are one part of a broader therapeutic strategy and not a standalone solution.

The Rs 6,000 crore upfront payment from AbbVie will be channelled into expanding IGI’s investigational pipeline, while a portion may also be distributed as dividends to Glenmark shareholders.

References:
https://www.business-standard.com/companies/news/glenmark-rises-3-percent-abbvie-700m-upfront-payment-125090901419_1.html
https://www.targetedonc.com/view/fda-grants-orphan-drug-designation-to-novel-glioblastoma-therapy
https://upstox.com/news/market-news/stocks/glenmark-pharma-shares-rise-3-as-subsidiary-bags-700-million-upfront-payment-from-abb-vie/article-180944/