AbbVie rises after licensing deal for cancer treatment with India's Glenmark Pharma unit

Glenmark Pharmaceuticals

10/07/2025 16:58

** Shares of drugmaker AbbVie ABBV.N rise 2.3% to $194.90

** AbbVie and India's Glenmark Pharmaceuticals arm GLEN.NS  Ichnos Glenmark Innovation (IGI) have signed an exclusive licensing agreement for IGI's cancer treatment, adding to the U.S. firm's oncology portfolio

** AbbVie will get exclusive rights to develop, manufacture and commercialize IGI's ISB 2001 in North America, Europe, Japan and Greater China

** IGI's experimental drug, ISB 2001, is currently in early-stage trial in patients with relapsed or refractory multiple myeloma, a type of cancer that develops in white blood cells

** IGI will receive an upfront payment of $700 million and could earn up to $1.225 billion in additional milestone payments

** Including session moves, ABBV is up 9.8% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))