Glenmark Pharmaceuticals Ltd.GLENMARK₹2,145.80 +12.70%

Shares of Glenmark Pharmaceuticals Ltd. surged 15% to hit the upper circuit at ₹2,189.60 after the company, through its biotechnology joint venture Ichnos Glenmark Innovation (IGI), announced a strategic global licensing deal with AbbVie for its lead investigational cancer asset, ISB 2001.

Under the agreement, AbbVie will take charge of the development, manufacturing, and commercialization of ISB 2001 across major markets, including North America, Europe, Japan, and Greater China. Glenmark will retain rights to develop and commercialize the drug across a wide range of Emerging Markets, covering Asia (excluding China and Japan), Latin America, Middle East, Africa, Russia/CIS, Australia, New Zealand, and South Korea.

ISB 2001 is currently in Phase 1 trials for relapsed/refractory multiple myeloma. It has shown promising early-stage results, with a 79% overall response rate and 30% complete/stringent complete response rate in heavily pretreated patients, as presented at the ASCO 2025 Annual Meeting. The asset has also received Orphan Drug and Fast Track designations from the U.S. FDA.

Glenmark’s President for Europe and Emerging Markets, Christoph Stoller, said the addition of ISB 2001 aligns with the company’s oncology strategy and enhances its position in high-growth markets. He pointed to Glenmark’s prior experience in launching novel cancer drugs such as BRUKINSA® and TEVIMBRA® in India, and said the company is well placed to expand access to advanced oncology treatments through this new asset.

Investors responded positively to the announcement, seeing it as a validation of Glenmark’s R&D investment through IGI and a potential revenue opportunity from future commercialization of a high-value biologic in emerging markets.

Over the last three years, Glenmark has given multibagger returns of more than 450%.

Let’s take a look at its Factor Analysis scores:

Note: The stock price mentioned is as of 12:10 PM.

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Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.