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Glenmark’s $1.9 Billion Licensing Deal with AbbVie Turns Balance Sheet Net Cash Positive

Updated: July 17, 2025 17:14

Image Source : ET Pharma
Glenmark Pharmaceuticals has achieved a major financial milestone following its landmark licensing agreement with USbased AbbVie, which is set to transform its capital structure and innovation trajectory.
 
Key Highlights:
  • Glenmark’s innovation arm, Ichnos Glenmark Innovation (IGI), signed a $1.925 billion deal for its oncology asset ISB 2001.
  • The agreement includes a $700 million upfront payment and up to $1.225 billion in milestonebased payouts.
  • S&P Global confirmed the deal will make Glenmark net cash positive, reversing its prior net debt position of ₹400 crore.
Strategic Impact:
  • The transaction eases Glenmark’s innovation funding burden, making IGI selfsustaining for the next 3–4 years.
  • Glenmark retains rights for emerging markets while AbbVie takes over development and commercialization in key global regions.
Market Reaction:
Shares surged over 30 percent postannouncement, with brokerages like Motilal Oswal and HSBC raising target prices.
 
Sources: CNBC TV18, Business Standard, Moneycontrol, MSN India, New Indian Express.

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