Glenmark Pharma share price hits 10% upper circuit on unit's cancer licensing deal with AbbVie
Under the terms of the agreement, IGI partners with AbbVie and grants exclusive rights to globally develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China, while Glenmark Pharmaceuticals will develop, manufacture, and lead commercialization of ISB 2001 across emerging markets, including the rest of Asia, Latin America, the Russia/CIS region, the Middle East, Africa, Australia, New Zealand, and South Korea, as per the company's exchange filing.
ISB 2001 is a unique trispecific T-cell engager that targets BCMA and CD38 on myeloma cells and CD3 on T cells, and it is currently being tested in Phase 1 clinical trials for multiple myeloma that has come back or does not respond to treatment.
Subject to regulatory clearance, IGI will receive an upfront payment of $700 million and is eligible to receive up to $1.225 billion in development, regulatory, and commercial milestone payments, along with tiered, double-digit royalties on net sales.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
4 days ago
- Time of India
IGI expands LGD certification amid industry shifts
Surat: As global gem labs rework their approach to lab-grown diamond (LGD) certification, the International Gemological Institute (IGI) is doubling down on infrastructure and outreach — reporting strong financial performance and expanding its footprint in India's Diamond City by setting up a new facility in Surat Hira Bourse, Ichhapore. It already has a laboratory and certification centre in Varachha. IGI's revenue rose 16% in the first quarter of FY 2025, with LGD certification showing the highest growth at 24% year-on-year. Profit after tax surged 63%, reaching Rs 1,265 crore compared to Rs 778 crore in the same period last year. "We're seeing strong growth across all segments and are bullish about expanding further," said Tehmasp Printer, MD and CEO, IGI. "Our focus remains on both lab-grown and natural diamonds. " In line with this strategy, IGI is setting up a new certification facility in Surat's Hira Bourse, Ichhapore, complementing its existing centre in Varachha. The move comes amid a sharp rise in LGD exports, which jumped from 7.81 million carats in FY 2023–24 to 15.29 million carats in FY 2024–25. Earlier this year, the Gemological Institute of America (GIA) announced it would discontinue the traditional 4Cs—cut, colour, clarity, and carat—for lab-grown diamonds (LGDs), opting instead for broader "premium" and "standard" categories. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Here's The Average Price of Gutter Protection For 2500 Sq Ft House LeafFilter Gutter Protection Learn More Undo Meanwhile, HRD Antwerp decided to exit LGD certification altogether. In contrast, IGI continues to certify both lab-grown and natural diamonds using the traditional 4Cs — cut, colour, clarity, and carat. In addition, it has introduced 'Light Performance Analysis,' a scientific evaluation that measures how a diamond interacts with light. The tool offers deeper insight into key visual attributes—brightness, fire, and contrast—that collectively define a diamond's true sparkle. "Certification is an integral part of knowledge. We provide knowledge and information. Certification is a critical part when consumers buy a product like a diamond.," said Printer, asserting that independent certification adds value, especially amid falling LGD prices and growing interest in self-certification.
Time of India
5 days ago
- Time of India
IGI India Q2 PAT jumps 63% YoY; margins, growth remain strong
Independent grading and accreditation service provider International Gemmological Institute (India) Limited (IGI) has reported 16% growth in revenues and 37% growth in EBITDA on a year-on-year basis, driven by strong growth momentum across all its key business segments - natural diamonds, lab-grown diamonds, jewellery and gemstones. Consolidated revenue from operations for the quarter stood at Rs 3,00.9 crore and EBITDA stood at Rs 173.5 crore. The EBITDA margin has improved from 49% in Q2 2024 to 58% in Q2 2025. Profit after Tax (PAT) Q2 2025 was reported as Rs 1,26.5 crore, a growth of 63% on a year-on-year basis, with PAT margins at 42% as against 30% in Q2 2024. For the half year ended June 2025, the company has reported 13% growth in revenues from operations and 23% growth in EBITDA in H1 2025 when compared with H1 2024. EBITDA margins are up from 56% in H1 2024 to 61% in H1 2025. The consolidated PAT for H1 2025 stood at Rs 2,67.3 crore, showed a 31% increase over H1 2024, with margins up from 38% in H1 2024 to 44% in H1 2025 Tehmasp Printer, Managing Director and CEO of IGI said, 'At IGI, we have gone beyond the traditional 4Cs and have introduced a proprietary 'Light Performance Analysis' which is a scientific assessment that measures how a diamond interacts with light. This would provide a deeper insight into critical visual attributes—brightness, fire, and contrast—which collectively define a diamond's true 'sparkle'. Additionally, along with our core segments of natural diamond certification and lab-grown diamond certification, we are also seeing a strong demand for certification of natural diamond and lab-grown diamond jewelry, which will further accelerate the growth of our business in the quarters to come.'
News18
7 days ago
- News18
Less Gold, More Glamour: Why Millennials Are Falling in Love with 18K Gold And Diamond Jewellery
Millennials aren't just buying jewellery for weddings or heirlooms, they're embracing it as a style staple, an investment, and a deeply personal choice The idea of jewellery as a once-in-a-while indulgence is giving way to a far more modern interpretation, one where fine jewellery becomes a part of everyday self-expression. And leading this evolution is a generation known for rewriting rules: millennials. Across the board, from design houses to retail platforms, a clear pattern is emerging. Millennials aren't just buying jewellery for weddings or heirlooms, they're embracing it as a style staple, an investment, and a deeply personal choice. Their preference? Lightweight, 18-karat gold pieces with diamond accents that blend elegance with everyday wearability. 'Millennials today are reshaping the narrative around fine jewellery, and it's becoming a part of their everyday style, a form of self-expression," says Ramesh Kalyanaraman, Director, Candere. 'We've observed a clear shift towards lightweight, design-led pieces that offer both elegance and ease. Whether it's a busy weekday or a relaxed weekend, these pieces are crafted to move with their lifestyle." Candere has seen a strong uptick in sales of 18K jewellery in 2024, particularly in rose and white gold tones, which pair beautifully with minimalist diamond detailing. Flagship designs like the IGI-certified Twila Solitaire Pendant and the Mignon Set Diamond Ring are emblematic of this shift, they're visually striking but light enough for daily wear. 'Today's luxury isn't louder, it's lighter," echoes Neil Sonawala, Managing Director, Zen Diamond India. 'We're witnessing a clear evolution in preferences among India's millennial consumers, who are gravitating toward fine jewellery that is elegant, wearable, and investment-savvy." The numbers back the sentiment. With gold prices having surged by nearly 20% in the last two years, the appeal of 18-karat gold, composed of 76% pure gold is rising. It offers the look and feel of fine jewellery at a relatively accessible price point without compromising on quality or durability. 'Diamond-accented designs especially solitaires, petite studs, and minimalist silhouettes are fast outpacing plain gold pieces," adds Sonawala. 'Less gold doesn't mean less glamour; through refined craftsmanship and high-impact design, our 18-karat collections deliver maximum brilliance with minimal weight." At Candere too, this less-is-more approach drives the design philosophy. 'Our design philosophy centres around wearability, individuality, and emotional resonance," says Kalyanaraman. 'Whether it's a gift to self, a layering essential, or a marker of a personal milestone, every piece is created to feel like an extension of the wearer." From Zen Diamond's lens, it's not just about what the jewellery looks like it's also about what it stands for. 'We are deepening our focus on hallmarking and certified sourcing," explains Sonawala, 'recognising the modern consumer's demand for transparency, authenticity, and long-term value." What emerges is a new code for fine jewellery: one that blends the timelessness of diamonds with the practicality of lighter weight, high-design gold. Millennials want pieces that move with them, from boardroom to brunch, from solo vacations to spontaneous proposals. For this generation, jewellery is no longer about show, it's about soul. And with 18K gold and diamond jewellery offering the sweet spot between luxe and lifestyle, it's clear that less truly is more. view comments First Published: July 28, 2025, 08:04 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
