Glenmark shares gain 2% as firm receives $700 million upfront payment from AbbVie deal

Shares of Glenmark Pharmaceuticals gained as much as 2% to touch an intraday high of Rs 2,089 on the NSE after the company announced that its subsidiary, Ichnos Glenmark Innovation, has received $700 million in upfront payment from AbbVie.

“The payment is in accordance with the agreed contractual terms and is being made towards an exclusive global licensing agreement for IGI’s lead investigational asset, ISB 2001 across North America, Europe, Japan, and Greater China markets,” the company said in a regulatory filing.

It is also eligible to receive up to $1.2 billion in development, regulatory, and commercial milestone payments, along with tiered, double-digit royalties on net sales of the asset.


In July, Ichnos Glenmark Innovation (IGI) signed an exclusive global licensing pact with US-based AbbVie to develop and commercialise IGI’s innovative drug ISB 2001 used for treating a rare form of blood cancer.

Glenmark said it will develop, manufacture, and lead commercialisation efforts of ISB 2001 in emerging markets including the rest of Asia, Latin America, the Russia/CIS region, the Middle East, Africa, Australia, New Zealand and South Korea. AbbVie will get these rights exclusively for North America, Europe, Japan, and Greater China.

Quarterly performance

Glenmark Pharma reported an 86% year-on-year (YoY) decline in consolidated net profit for the first quarter of FY26, even as revenue remained largely flat and the North America business showed signs of recovery.

Glenmark reported a consolidated net profit of Rs 46.87 crore for the June quarter, compared with Rs 340.27 crore in the same period last year.

At about 9:25 am, shares of the company were trading at Rs 2,083, higher by 1.65% from the last close. Glenmark shares have risen nearly 50% in the last six months.

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