Glenmark Pharma hits 10% upper circuit, scales fresh 52-week high on $700 mn cancer drug deal

Glenmark Pharma Share Price: Glenmark Pharmaceuticals' shares soared after its subsidiary, Ichnos Glenmark Innovation, inked a global licensing agreement with AbbVie for its cancer drug, ISB 2001. AbbVie gains exclusive rights in major markets, while Glenmark retains rights for emerging markets. The deal includes a $700 million upfront payment and potential milestone payments, highlighting the drug's promise in treating multiple myeloma.