Glenmark Pharma shares soar after ISB 2001 deal with AbbVie. HSBC, Motilal Oswal raise targets to ₹2,275–₹2,430. Analysts forecast 26% upside.
🔍 Glenmark Pharma Shares Rally 10% After Landmark ISB 2001 Licensing Deal
Mumbai, July 11, 2025 — Shares of Glenmark Pharmaceuticals Ltd. jumped as much as 10% in early trade on Friday, following a game-changing exclusive licensing agreement between Glenmark’s innovation arm, Ichnos Glenmark Innovation (IGI), and AbbVie for its lead investigational asset ISB 2001.
While the stock ended the previous session at ₹1,919.60 apiece, analysts now believe it could surpass ₹2,400 in the coming months, riding high on this transformational deal.
💼 What Is the ISB 2001 Deal Between Glenmark and AbbVie?
Under the agreement:
- 🧬 AbbVie gets exclusive global rights to develop, manufacture, and commercialize ISB 2001 in developed markets, including the US, Europe, Japan, and China.
- 🌍 Glenmark retains rights for India and emerging markets, such as Latin America, Russia/CIS, Africa, and Southeast Asia.
- 💰 The deal includes:
- $700 million upfront
- Up to $1.225 billion in milestone payments
- Tiered double-digit royalties on global net sales
ISB 2001, currently in Phase 1B clinical trials, is a trispecific T-cell engager targeting BCMA, CD38, and CD3, primarily for the treatment of relapsed or refractory multiple myeloma.
📊 Price Target Upgrades: Analysts Turn Bullish
🏦 HSBC Ups Target by 32%
HSBC has raised its target price to ₹2,275, up from ₹1,720 — a 32% increase, citing the high-value nature of the deal.
📈 Motilal Oswal Bullish on Long-Term Growth
- Buy rating with a target price of ₹2,430
- Sees ISB 2001 as a globally competitive asset
- Highlights the commercial potential of IGI’s BEAT protein platform
Quote:
“This deal validates Glenmark’s innovation strategy and sets a global benchmark. It ranks among the top 4 global licensing deals by upfront value.”
— Motilal Oswal Report
🔎 Analyst View: What’s Driving Optimism?
According to analysts covering the stock:
- Glenmark has reduced leverage and realigned its strategy over the last few years.
- Strong ANDA pipeline in the U.S. market.
- Improved commercial prospects from innovation-based R&D.
- Forecast (FY25–FY27):
- 📈 Sales CAGR: 11%
- 💹 EBITDA CAGR: 17%
- 💰 PAT CAGR: 20%
- Targeting revenue of ₹16,300 crore by FY27
Of the 12 analysts tracking Glenmark:
- 8 have “Buy”
- 3 recommend “Hold”
- 1 has “Sell”
📉 Not All Analysts Are Bullish: Nomura’s Cautious Tone
On the other hand, Nomura has maintained a “Neutral” rating, setting a more conservative target of ₹1,500.
“While the deal is impressive in value, risks remain around trial outcomes, regulatory hurdles, and global commercialization.”
— Nomura Research Note
📈 Glenmark Pharma Stock Performance Snapshot
| Date | Price (₹) | % Change |
|---|---|---|
| March 17, 2025 | 1,430 | — |
| July 11, 2025 | 1,919.60 | +34.2% |
| Intraday High (July 11) | 2,111 | +10% |
| 1-Month Return | — | +28% |
🌐 What Is ISB 2001 & Why Does It Matter?
- 🔬 ISB 2001 is a tri-specific antibody that binds:
- BCMA & CD38 on myeloma cells
- CD3 on T-cells
- Targets multiple myeloma that is relapsed or non-responsive
- Currently in Phase 1B clinical trials
- If successful, it could be a first-in-class treatment globally
❓ FAQs: Glenmark Pharma & ISB 2001 Deal Explained
1. What is ISB 2001?
ISB 2001 is a trispecific T-cell engager under development for the treatment of multiple myeloma, targeting BCMA, CD38, and CD3.
2. How big is the Glenmark Pharma–AbbVie deal?
It includes $700 million upfront, $1.225 billion in milestones, and tiered royalties, making it the largest licensing deal by an Indian pharma firm.
3. Who retains market rights for ISB 2001?
AbbVie gets rights in the US, EU, Japan, and China, while Glenmark retains rights for India and other emerging markets.
4. Will Glenmark Pharma’s stock rise further?
Analysts like Motilal Oswal and HSBC forecast 26–30% upside, with targets above ₹2,400.
5. Is ISB 2001 FDA-approved?
No, it is currently in Phase 1B of clinical trials and not yet approved by the FDA or any global agency.
Glenmark Pharma’s official press release
(Source: Company announcement about ISB 2001 deal)
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