Glenmark Pharma Share Price Extends Gains, Stock Locked In Upper Circuit - Know Why

Glenmark Pharma Share Price: Glenmark Pharma shares extended gains for the second straight day on July 11. The stock surged 10 per cent and was locked at its upper circuit limit of Rs 2,094.4 apiece on the NSE. In the last two sessions the stock has surged over 15 per cent.

Why Is Glenmark Pharma Share Price Rising

Shares of Glenmark Pharma gained after the company informed the exchanges via a release that its subsidiary Ichnos Glenmark Innovation (IGI) has entered into an exclusive global licensing agreement with AbbVie for the drug ISB 2001. ISB 2001 is a first-in-class trispecific antibody which is used for the treatment of oncological and autoimmune illnesses. Notably IGI was created as an alliance between Glenmark Pharma and Ichnos Sciences.

As a part of the agreement, AbbVie will get the exclusive right to develop, manufacture and commercialise the ISB 2001 drug across regions such as North America, Europe, Japan, and Greater China. On the other hand Glenmark Pharmaceuticals will undertake the same operations for ISB 2001 in various emerging markets like parts of Asia, Latin America, Russia, the Middle East, Africa, Australia, New Zealand and South Korea.

According to the release, the Glenmark Pharma subsidiary will receive an upfront payment of $700 million. Additionally, the company is also set to get as much as $1.225 billion as the drug undergoes various stages of development, regulatory, and commercial milestones. IGI is also set to receive tiered double-digit royalties on net sales as a part of the agreement.

The release also quoted Roopal Thakkar the M.D., Executive Vice-President, Research and Development and Chief Scientific Officer, AbbVie who said that the company’s partnership with IGI is a part of its commitment to advance means of treating patients ailing from multiple myeloma.

“This partnership with IGI reflects our unwavering commitment to advancing novel therapies for patients with multiple myeloma, a disease where significant unmet need remains despite recent progress,” the release stated.

Glenmark Pharmaceutical also mentioned in the release that the drug ISB 2001 was presented at the 2025 American Society of Clinical Oncology’s (ASCO) annual meeting. At the meeting, the company showed that in a study conducted with 35 patients, the drug showed a sustained overall response rate (ORR) of 79 per cent along with a high complete response rate of 30 per cent in a population of patients with relapsed or refractory myeloma. Glenmark Pharma said in the release that in July 2023, the U.S. Food & Drug Administration gave the ISB 2001 Orphan Drug Designation in July 2023 and Fast Track Designation for the treatment of refractory myeloma in May 2025.

Glenmark Pharma Share Price History

In the past one-year shares of Glenmark Pharma have surged over 50 per cent on the NSE. In the last six months the stock has climbed over 32 per cent and on a year-to-date basis the pharmaceutical company’s stock has gained over 30 per cent. In the last one month Glenmark Pharmaceutical shares have rallied more than 29 per cent and in the last five days the stock has traded higher by over 17 per cent.

At the time of writing shares of Glenmark Pharma continued to remain locked at the 10 per cent upper circuit limit of Rs 2,094.4 apiece on the NSE.