Glenmark Pharma shares rose 3% to an intraday high of ₹2,112.60 on Tuesday, September 9. The company announced that its wholly-owned subsidiary has received an upfront payment of $700 million from AbbVie.
“This payment is in accordance with agreed contractual terms and is being made under an exclusive global licensing agreement for IGI’s key investigational asset, ISB 2001, in the North America, Europe, Japan and Greater China markets,” Glenmark said in a regulatory filing. On July 10, 2025, New York-based Ichnos will acquire Glenmark Innovations, Inc. IGI Therapeutics SA, a wholly-owned subsidiary of IGI, and AbbVie have announced an exclusive licensing agreement for IGI’s lead research asset, ISB 2001, developed using IGI’s proprietary Beat® protein platform for oncology and autoimmune diseases.
Under the terms of the agreement, AbbVie was expected to receive exclusive rights to develop, manufacture and commercialize ISB 2001 in North America, Europe, Japan and Greater China.
“…IGI will receive an upfront payment of $700 million and is eligible to receive up to $1.225 billion in development, regulatory and commercial milestone payments, as well as double-digit royalties on net sales,” the company said in a statement on July 10.
Following the development, Glenmark Pharma shares were trading 2.82% higher at ₹2,109.70 per share on the National Stock Exchange at 11:38 am.
In the last five trading sessions, the pharma stock has rallied nearly 9%. It has gained 3% in a month.
In the six-month period from March 10, 2025, Glenmark Pharma shares have gained over 50%. So far this year, it has gained 31%.
The company has a market capitalisation of ₹59,411.74 crore.
Glenmark Pharma Q1 Earnings
The drugmaker’s consolidated profit after tax fell 86% to ₹46.97 crore in the first quarter ended June 30, 2025, due to a provision for settling litigation in the US. The company’s consolidated profit after tax (PAT) stood at ₹340.24 crore in the same period last fiscal.
The company further informed that its consolidated total revenue from operations in the first quarter stood at ₹3,264.44 crore as against ₹3,244.19 crore in the same period a year ago.
Total expenses in the quarter under review increased marginally to ₹2,872.07 crore as against ₹2,813.34 crore in the same period a year ago.
The company said that sales from the formulation business in India stood at ₹1,239.9 crore in the first quarter of FY26 as against ₹1,196.2 crore in the same quarter last fiscal.
