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News Topical, Digital Desk : Glenmark Pharmaceuticals informed after the stock market closed on Thursday that the company's subsidiary Ichnos Glenmark Innovation (IGI) has signed a $700 million global licensing deal with AbbVie for its oncology product ISB 2001. The agreement includes potential milestone payments of up to $1.225 billion and double-digit tiered royalties. ISB 2001 is a first-of-its-kind trispecific antibody developed for the treatment of relapsed/refractory multiple myeloma. It has received a 79 percent response rate in initial trials.

The company said that as per the terms of the agreement, IGI has partnered with AbbVie and granted AbbVie exclusive rights for the global development, manufacturing and commercialization of ISB 2001 in North America, Europe, Japan and Greater China. In the fourth quarter of FY 2025 ended March 31, Glenmark's consolidated income grew 6.3 per cent year-on-year to Rs 3,256 crore, from Rs 3,063 crore in the same quarter last year. 

Stock performance On Thursday, the company's stock closed 5.54 per cent higher at Rs 1,919.60. In the last one year, the company's stock has seen a gain of 39.12 per cent. 


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Glenmark AbbVie ISB 2001 BEAT platform licensing deal oncology trispecific antibody multiple myeloma global commercialization emerging markets North America Europe Japan Greater China Glenmark Innovation clinical-stage biotechnology biologics milestone payments double-digit royalties strategic partnership