Glenmark Pharmaceuticals Hits 10% Upper Circuit on Licensing Deal with AbbVie for ISB 2001
By Shishta Dutta | Published at: Jul 11, 2025 01:05 PM IST
Mumbai, July 11, 2025 – Shares of Glenmark Pharmaceuticals Ltd (NSE: GLENMARK, BSE: 532296) surged 10% to hit the upper circuit at ₹2,094.40 in early trade today, following the announcement of a significant global licensing and commercialization partnership for its oncology asset ISB 2001 with US-based pharma giant AbbVie.
ISB 2001, an experimental, first-in-class trispecific T-cell engager developed on IGI’s proprietary BEAT® platform. The deal grants AbbVie rights to develop and commercialise ISB 2001 in key global markets, while Glenmark will retain control over emerging markets, broadening its oncology reach and reinforcing its innovation-led strategy.
Glenmark-IGI-AbbVie Collaboration Sparks Investor Optimism
Ichnos Glenmark Innovation (IGI), a wholly owned step-down subsidiary of Glenmark, entered into an exclusive licensing deal with AbbVie for ISB 2001, a first-in-class trispecific T-cell engager developed on IGI’s proprietary BEAT® platform.
Under the agreement:
- AbbVie will develop, manufacture, and commercialise ISB 2001 in North America, Europe, Japan, and Greater China.
- Glenmark will lead commercialisation in Emerging Markets, including Asia (excluding the above regions), Latin America, Russia/CIS, Middle East, Africa, Australia, New Zealand, and South Korea.
Management Commentary
Christoph Stoller, President – Europe and Emerging Markets at Glenmark, said: “The addition of ISB 2001 is a natural evolution of our oncology strategy… We are well positioned to deliver impactful treatment options for patients with difficult-to-treat cancers through ISB 2001.”
Market Response and Stock Data
The stock surged the full 10% permissible limit, triggering a freeze in trading with no sellers on the counter.
| Stock Performance as of 11:31 IST | Value |
|---|---|
| Last Traded Price | ₹2,094.40 |
| Previous Close | ₹1,904.00 |
| Volume Weighted Average Price (VWAP) | ₹2,094.40 |
| 52-Week High (Today) | ₹2,094.40 |
| 52-Week Low (Feb 28, 2025) | ₹1,275.50 |
| Total Buy Quantity | 38,54,131 |
| Total Sell Quantity | – |
Trade Metrics and Market Cap
| Key Metrics | Value |
|---|---|
| Traded Volume | 2.79 lakh shares |
| Traded Value | ₹58.39 crore |
| Total Market Cap | ₹59,104.14 crore |
| Free Float Market Cap | ₹31,450.14 crore |
| P/E Ratio (Adjusted) | 33.93 |
| Symbol P/E | 51.31 |
| Daily Volatility | 1.95% |
| Annualised Volatility | 37.25% |
About ISB 2001 and Trial Progress
ISB 2001 is in Phase 1 clinical trials for relapsed/refractory multiple myeloma. It has received:
- Orphan Drug Designation (July 2023)
- Fast Track Designation (May 2025) from the US FDA.
Recent data from ASCO 2025 revealed a 79% overall response rate (ORR) and 30% complete response rate (CR/sCR) at active doses of ≥50 µg/kg in heavily pretreated patients, with a favourable safety profile.
Market Outlook
The exclusive licensing deal with AbbVie for ISB 2001 has boosted investor confidence in Glenmark’s innovation pipeline. The market responded positively, reflecting expectations of revenue upside, strengthened oncology positioning, and strategic global reach in high-value biopharma markets.
About Glenmark Pharmaceuticals Ltd.
Glenmark Pharmaceuticals Ltd. is a research-driven global pharmaceutical company listed on BSE and NSE. With operations in over 80 countries, 11 manufacturing facilities across four continents, and a focus on oncology, respiratory, and dermatology segments, it ranks among the Top 100 global biopharma companies and Top 50 in generics and biosimilars by sales. The company is part of the NIFTY PHARMA index.
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