Glenmark Subsidiary Signs $700 Million Cancer Drug Deal with AbbVie.

Who’s Involved? • Glenmark Pharma’s subsidiary IGI (Ichnos Glenmark Innovation) • AbbVie, a major US pharma company What’s the Deal? • IGI is licensing its experimental cancer drug ISB 2001 to AbbVie • Upfront payment: $700 million • Additional milestone payments: Up to $1.225 billion • Royalties: IGI will also earn a percentage of future sales What is ISB 2001? • A new treatment for multiple myeloma (a type of blood cancer) • Developed using IGI’s own BEAT® protein platform • Has FDA fast track and orphan drug designations Who Will Sell the Drug? • AbbVie: Will handle North America, Europe, Japan, and China • IGI/Glenmark: Will manage other regions like India, Latin America, Africa, etc. Why It’s Big: • It’s one of the largest biotech deals by an Indian company • Could bring in over $1.9 billion in total value • Boosts Glenmark’s position in global cancer drug development Glenmark shares jumped 5.5% to ₹1,919 on July 10 after the news.