Glenmark Shares Surge 10% After AbbVie Inks Licensing Deal for ISB 2001

11 Jul 2025 , 09:48 AM

Glenmark Pharmaceuticals witnessed a sharp uptick in its stock price on Friday trading with a 10% surge, after announcing a major licensing deal with US drug giant AbbVie. The partnership revolves around a cancer drug candidate, ISB 2001, developed by Glenmark’s innovation-focused subsidiary.

At the centre of the deal is ISB 2001, a tri-specific antibody developed by Ichnos Glenmark Innovation, the R&D-focused arm of Glenmark. The compound is currently in Phase 1B clinical trials, being studied for multiple myeloma, a tough-to-treat form of blood cancer.

Under the agreement, AbbVie will take on the responsibility for developing and marketing the drug in major international markets the US, Europe, Japan, China and others. Glenmark, on the other hand, keeps the commercialisation rights for India and select developing regions.

“This has been years in the making,” said Glenn Saldanha, Glenmark’s CMD. “We’ve been pushing the boundaries in innovation for over two decades now, and ISB 2001 is a molecule we truly believe in. It has potential to impact patients in a big way.”

Glenmark, based in Mumbai, operates in over 80 countries and focuses on areas like oncology, dermatology, and respiratory care. It runs ten manufacturing plants across five continents and operates four R&D hubs globally.

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