Glenmark Pharma share price hits 10% upper circuit on unit’s cancer licensing deal with AbbVie
Glenmark Pharmaceuticals share price in focus today: Shares of Glenmark Pharmaceuticals were locked in the 10% upper circuit in early trade on Friday, July 11, scaling a fresh all-time high of ₹2,094 apiece.
The rally followed the company’s announcement on Thursday that its innovation arm, Ichnos Glenmark Innovation (IGI), had signed an exclusive licensing agreement with AbbVie for IGI’s lead investigational asset, ISB 2001 for use in oncology and autoimmune diseases, thereby adding to the U.S. firm’s oncology portfolio.
Glenmark Pharma deal with AbbVie: Key details
Under the terms of the agreement, IGI partners with AbbVie and grants exclusive rights to globally develop, manufacture, and commercialize ISB 2001 across North…
