Glenmark Pharma shares jumped over 2% in early morning trade after the company announced that its wholly owned subsidiary, Ichnos Glenmark Innovation (IGI), has received an upfront payment of $700 million from AbbVie (NYSE: ABBV). As of 10:28 AM, the shares were trading 2.73% higher at Rs 2,108.00.
The payment is part of an exclusive global licensing agreement between Glenmark’s IGI and AbbVie. Under the deal, AbbVie secures worldwide rights to IGI’s lead investigational asset, ISB 2001, covering key markets such as North America, Europe, Japan, and Greater China.
First announced on July 10, 2025, this partnership is among Glenmark’s most significant licensing deals to date. The upfront milestone strengthens Glenmark’s financial position and highlights the robust potential of IGI’s R&D pipeline.
The ISB 2001 program is gaining attention in the global pharmaceutical industry for its potential to address unmet medical needs. With AbbVie’s expertise in drug development and commercialization, the agreement is expected to accelerate ISB 2001’s journey from clinical trials to global market availability.
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