India's Glenmark Pharma gains on cancer drug deal with China's Jiangsu Hengrui

Glenmark Pharmaceuticals

25/09/2025 06:35

** Shares of Glenmark Pharmaceuticals GLEN.NS climb as much as 1.5% to 2,048.6 rupees, last up 0.9%

** GLEN's Swiss unit wins licence for China's Jiangsu Hengrui Pharma 600276.SS innovative cancer drug trastuzumab rezetecan

** Hengrui will receive $18 million upfront, milestone payments of up to $1.09 billion

** Nomura analysts say drug will likely be largest contributor to GLEN's $350-400 million innovation drug revenue target in next 5-7 years

** Adds, drug has demonstrated good efficacy profile, with its objective response rate in non-small lung cancer patients at 74.5%

** GLEN rated "buy" on avg by 9 analysts, median PT at 2,400 rupees - data compiled by LSEG

** Stock up nearly 27% so far in 2025

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))