Glenmark subsidiary gets $700m upfront from AbbVie for licensing deal

Glenmark Pharmaceuticals Limited announced on September 9, 2025, that its wholly-owned subsidiary, Ichnos Glenmark Innovation (IGI), received an upfront payment of $700 million from AbbVie. This payment follows a media release dated July 10, 2025.

The payment is in line with the agreed contractual terms of an exclusive global licensing agreement. This agreement pertains to IGI's lead investigational asset, ISB 2001, and covers markets across North America, Europe, Japan, and Greater China.

This development highlights a key milestone for Glenmark Pharmaceuticals and its subsidiary, IGI, in advancing its investigational assets through strategic partnerships. The company communicated this information to the BSE Ltd. and the National Stock Exchange of India Ltd., with Harish Kuber, company secretary & compliance officer, signing the intimation.