AbbVie rises after licensing deal for cancer treatment with India's Glenmark Pharma unit
ReutersJul 10, 2025 3:58 PM
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
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