Glenmark Pharma shares in focus after subsidiary licences cancer drug to AbbVie for $700 million upfront

Glenmark Pharma is in the spotlight after its step-down subsidiary, Ichnos Glenmark Innovation (IGI), signed a global licensing deal with AbbVie for ISB 2001, an experimental cancer drug in Phase 1 trials. AbbVie will handle development and commercialisation in major markets, while Glenmark retains rights in emerging regions, marking a major milestone in IGIs oncology pipeline.