Glenmark Subsidiary Signs $1.9 Billion Global Licensing Deal with AbbVie for Cancer Drug

Glenmark Pharmaceuticals announced on July 10 that its subsidiary, Ichnos Glenmark Innovation (IGI), has signed an exclusive global licensing agreement with U.S.-based AbbVie for its investigational multiple myeloma drug, ISB 2001. Under the deal, AbbVie will handle development and sales in major markets like the U.S., Europe, Japan, and China, while Glenmark covers emerging markets. IGI will receive $700 million upfront and up to $1.225 billion in milestone payments, plus royalties. ISB 2001 is in Phase 1 trials and holds orphan and fast-track status from the U.S. FDA