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Time of India
6 days ago
- Business
- Time of India
Top stocks to buy: Stock recommendations for the week starting July 14, 2025
Top stocks to buy (AI image) Stock market recommendations: According to Motilal Oswal Financial Services Ltd, the top stock picks for the week (starting July 14, 2025) are Suzlon, and Glenmark Pharma. Let's take a look: Stock Name CMP (Rs) Target (Rs) Upside (%) Suzlon 66 82 24% Glenmark 2175 2430 12% Suzlon Suzlon new order outlook remains healthy with expected order inflow of ~4GW in FY26, including potential ~1.5GW NTPC orders, which implies total potential OB of ~6.5GW by FY26 end. EPC share is likely to rise from 20% now to ~50% in the medium term, improving execution visibility. Revised list of Models & Manufacturers (RLMM) mandating local content for key components in wind turbines is likely to be formally adopted in 2QFY26. Gradual Inter-state transmission system (ISTS) waiver phase-out will support smoother project execution. Suzlon stands to benefit from proactive land acquisition and EPC expansion initiatives. Cash conversion cycle is expected to improve by 30-35 days which will enhance balance sheet strength & generate higher free cash flow, supporting sustainable RoEs. Glenmark Pharma Glenmark's subsidiary Ichnos Glenmark Innovation (IGI) has signed an exclusive licensing agreement with AbbVie, a diversified biopharma leader, for its oncology product ISB-2001, validating clinical & commercial potential of IGI's BEAT® protein platform. The $700m upfront—world's 4th largest payment—along with $1.2b in milestones, boosts R&D monetization. Tiered double-digit royalties offer annuity income, while ANDA pipeline expansion & domestic reset further support growth. AbbVie will commercialize ISB-2001 in developed markets, while Glenmark retains rights in emerging markets. Improved leverage and a domestic reset underpin 11%/17%/20% sales/EBITDA/PAT CAGR over FY25-27. We add INR470/share NPV to arrive at a TP of INR2,430, supported by its pivot toward innovation-led growth. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Upturn
11-07-2025
- Business
- Business Upturn
Glenmark Pharma shares surge 10% after its subsidiary signs $700 million licensing deal with AbbVie for ISB 2001
By Aman Shukla Published on July 11, 2025, 09:15 IST Glenmark Pharmaceuticals witnessed a sharp 10% rise in its stock price during morning trade after announcing a major licensing agreement between its US-based innovation subsidiary, IGI Therapeutics SA, and global biopharma giant AbbVie (NYSE: ABBV). The deal focuses on IGI's lead investigational therapy, ISB 2001, developed using its proprietary BEAT® protein platform, targeting oncology and autoimmune disorders. As of 9:15 AM, the shares were trading 10.00% higher at Rs 2,094.40. As part of the exclusive global licensing deal, AbbVie will obtain rights to develop, manufacture, and commercialize ISB 2001 in key markets, including North America, Europe, Japan, and Greater China. Glenmark's IGI will receive an upfront payment of $700 million and stands to gain up to $1.225 billion in milestone-based payouts. Additionally, the agreement includes tiered double-digit royalties on net sales. Roopal Thakkar, M.D., Executive Vice-President, Research and Development and Chief Scientific Officer, AbbVie, stated, 'Multispecifics including trispecific antibodies represent a new frontier in immuno-oncology with the potential to deliver deeper, more durable responses by engaging multiple targets simultaneously. This partnership with IGI reflects our unwavering commitment to advancing novel therapies for patients with multiple myeloma, a disease where significant unmet need remains despite recent progress.' Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Glenmark PharmaStock Market Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
News18
11-07-2025
- Business
- News18
Glenmark Pharma Soars 10% To Record High After AbbVie Cancer Drug Deal; Details
Last Updated: Shares of Glenmark Pharmaceuticals Ltd surged 10 per cent in early trade on Friday; Key points for investors Glenmark Share Price: Shares of Glenmark Pharmaceuticals Ltd surged 10 per cent in early trade on Friday, scaling a new all-time high of Rs 2,094 apiece, after the company announced a major licensing agreement involving its innovation subsidiary. In a regulatory filing post market hours on July 10, Glenmark said its step-down wholly-owned subsidiary, Ichnos Glenmark Innovation (IGI), had signed a global licensing pact with AbbVie. The investigational drug, ISB 2001, is currently undergoing Phase 1 clinical trials for patients with relapsed or refractory multiple myeloma, a form of blood cancer. Under the terms of the agreement, AbbVie will obtain exclusive rights to develop, manufacture, and commercialize ISB 2001 across key developed markets, including North America, Europe, Japan, and China. Glenmark will retain commercialization rights across emerging markets such as the rest of Asia, Latin America, Russia/CIS, the Middle East, Africa, Australia, New Zealand, and South Korea. Glenmark's IGI Therapeutics SA will receive an upfront payment of $700 million and may earn up to $1.225 billion in additional milestone payments tied to development, regulatory clearances, and commercial success. The deal also includes tiered, double-digit royalties on net sales. The US FDA granted ISB 2001 orphan drug designation in July 2023 and fast-track designation in May 2025 for treating relapsed or refractory multiple myeloma. These designations are expected to speed up the drug's development and approval process. Roopal Thakkar, M.D., EVP of R&D and Chief Scientific Officer at AbbVie, said, 'Multispecifics, including trispecific antibodies, are a new frontier in immuno-oncology. This partnership underscores our commitment to advancing novel treatments for multiple myeloma, where unmet medical needs still exist." Cyril Konto, M.D., President and CEO of IGI, added, 'ISB 2001 showcases the power of our BEAT® protein platform to create next-generation multispecifics™. This agreement is a defining moment in IGI's journey and accelerates the drug's path to patients." Stock Performance and Analyst Take Glenmark Pharma shares have surged over 14% in the past five sessions, 28% in one month, and more than 51% over the past year. Despite the rally, Nomura has maintained a 'Neutral' rating on the stock with a price target of Rs 1,500, implying over 21% downside from its previous close of Rs 1,904. The brokerage noted that the deal is the largest licensing agreement signed by an Indian pharmaceutical firm and exceeded its expectations in value. view comments First Published: July 11, 2025, 10:41 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.
Business Upturn
10-07-2025
- Business
- Business Upturn
Glenmark Pharma's subsidiary IGI Therapeutics signs $700 million licensing deal with AbbVie for ISB 2001
In a major development for the biopharma space, Glenmark Pharmaceuticals' US-based innovation arm, IGI Therapeutics SA, has entered into an exclusive licensing agreement with global pharma giant AbbVie (NYSE: ABBV). The deal centers around ISB 2001, IGI's lead investigational drug developed using its proprietary BEAT® protein platform, aimed at treating oncology and autoimmune diseases. Under the terms of the agreement, AbbVie gains exclusive global rights to develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China. IGI will receive a hefty upfront payment of $700 million, with the potential to earn up to $1.225 billion in additional milestone payments tied to development, regulatory approvals, and commercial success. The deal also includes tiered, double-digit royalties on future net sales of the product. Roopal Thakkar, M.D., Executive Vice-President, Research and Development and Chief Scientific Officer, AbbVie, said, 'Multispecifics including trispecific antibodies represent a new frontier in immuno-oncology with the potential to deliver deeper, more durable responses by engaging multiple targets simultaneously. This partnership with IGI reflects our unwavering commitment to advancing novel therapies for patients with multiple myeloma, a disease where significant unmet need remains despite recent progress.' This collaboration marks a significant milestone for Glenmark's innovation strategy, reinforcing its transition toward cutting-edge biologics and strengthening its global R&D footprint. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Yahoo
10-07-2025
- Business
- Yahoo
Ichnos Glenmark Innovation (IGI) and AbbVie Announce Exclusive Global Licensing Agreement for ISB 2001, a First-in-Class CD38×BCMA×CD3 Trispecific Antibody
ISB 2001 is currently in Phase 1 clinical trial in patients with relapsed/refractory multiple myeloma (R/R MM) NEW YORK and NORTH CHICAGO, Ill., July 10, 2025 (GLOBE NEWSWIRE) -- IGI Therapeutics SA, a wholly owned subsidiary of New York-based Ichnos Glenmark Innovation, Inc. (IGI), and AbbVie (NYSE: ABBV) today announced an exclusive licensing agreement for IGI's lead investigational asset, ISB 2001, developed using IGI's proprietary BEAT® protein platform, for oncology and autoimmune diseases. 'Multispecifics including trispecific antibodies represent a new frontier in immuno-oncology with the potential to deliver deeper, more durable responses by engaging multiple targets simultaneously,' said Roopal Thakkar, M.D., Executive Vice-President, Research and Development and Chief Scientific Officer, AbbVie. 'This partnership with IGI reflects our unwavering commitment to advancing novel therapies for patients with multiple myeloma, a disease where significant unmet need remains despite recent progress.' 'ISB 2001 exemplifies the potential of our BEAT® protein platform to generate effective multispecifics™ that may overcome resistance and improve outcomes in hard-to-treat cancers,' said Cyril Konto, M.D., President and CEO of IGI. 'This agreement marks a defining milestone in IGI's scientific journey and reflects our team's deep commitment to delivering meaningful therapies for patients, Our partnership with AbbVie accelerates ISB 2001's path to patients and sharpens our focus on advancing th e next generation of BEAT®-enabled assets in oncology.' Under the terms of the agreement, AbbVie will receive exclusive rights to develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China. 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. About ISB 2001 ISB 2001 is a first-in-class trispecific T-cell engager that targets BCMA and CD38 on myeloma cells and CD3 on T cells currently in Phase 1 for relapsed/refractory multiple myeloma. Developed using IGI's proprietary BEAT® protein platform, ISB 2001 was engineered with two distinct binders against myeloma-associated antigens to enhance avidity, even at low target expression levels, while aiming to improve safety over first-generation bispecific antibodies. Recently presented at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting as a Rapid Oral Presentation (Abstract #7514), data from 35 patients demonstrated a sustained overall response rate (ORR) of 79% and a high complete/stringent complete response (CR/sCR) rate of 30% at active doses ≥ 50 µg/kg in a heavily pretreated population of relapsed/refractory myeloma patients, with a favorable safety profile. U.S. Food & Drug Administration granted ISB 2001 Orphan Drug Designation in July 2023 and Fast Track Designation for the treatment of relapsed/refractory myeloma patients in May 2025. About the BEAT® Multispecific™ Platform IGI's proprietary BEAT® platform goes beyond traditional bispecific antibody approaches, addressing key engineering bottlenecks that have historically limited large-scale bispecific production. By leveraging a proprietary common light chain library and TCR interface-based heavy chain pairing, BEAT® enables the development of next-generation immune cell engagers with strong therapeutic potential in oncology. Unlike many engineered formats, BEAT® mirrors the architecture of natural antibodies utilizing both light and heavy chains to enhance stability and function. Key attributes of the BEAT® platform include its multispecific versatility, enabling the design of antibodies that engage diverse immune cell types such as T cells, myeloid cells, and NK cells against multiple antigens. The platform also features optimized engineering through high-fidelity heavy chain pairing with a common light chain, allowing for precise Fc modulation and access to a broad structural design space. Additionally, BEAT® supports robust manufacturability, producing correctly assembled multispecific antibodies with favorable stability, extended half-lives, low immunogenicity and high titer yields through standardized process development and manufacturing operations. About IGI IGI is a global, fully integrated clinical-stage biotechnology company focused on developing innovative biologics in oncology. Headquartered in New York, NY, IGI is advancing a robust pipeline of novel, first-in-class multispecifics™ aimed at addressing complex diseases and treating patients holistically. Powered by its proprietary BEAT® technology platform, IGI is committed to delivering breakthrough, curative therapies to improve and extend the lives of patients battling hematological malignancies and solid tumors. For more information, visit About AbbVie AbbVie's mission is to discover and deliver innovative medicines and solutions that solve serious health issues today and address the medical challenges of tomorrow. We strive to have a remarkable impact on people's lives across several key therapeutic areas – immunology, oncology, neuroscience, and eye care – and products and services in our Allergan Aesthetics portfolio. For more information about AbbVie, please visit us at Follow @abbvie on LinkedIn, Facebook, Instagram, X (formerly Twitter), and YouTube. About AbbVie in Oncology AbbVie is committed to elevating standards of care and bringing transformative therapies to patients worldwide living with difficult-to-treat cancers. We are advancing a dynamic pipeline of investigational therapies across a range of cancer types in both blood cancers and solid tumors. We are focusing on creating targeted medicines that either impede the reproduction of cancer cells or enable their elimination. We achieve this through various, targeted treatment modalities and biology interventions, including small molecule therapeutics, antibody-drug conjugates (ADCs), immuno-oncology-based therapeutics, multispecific antibody and novel CAR-T platforms. Our dedicated and experienced team joins forces with innovative partners to accelerate the delivery of potential breakthrough medicines. Today, our expansive oncology portfolio comprises approved and investigational treatments for a wide range of blood cancers and solid tumors. We are evaluating more than 35 investigational medicines in multiple clinical trials across some of the world's most widespread and debilitating cancers. As we work to have a remarkable impact on people's lives, we are committed to exploring solutions to help patients obtain access to our cancer medicines. For more information, please visit AbbVie Forward Looking Statement Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions and uses of future or conditional verbs, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Such risks and uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the research and development process, adverse litigation or government action, changes to laws and regulations applicable to our industry, the impact of global macroeconomic factors, such as economic downturns or uncertainty, international conflict, trade disputes and tariffs, and other uncertainties and risks associated with global business operations. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2024 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, as updated by its Quarterly Reports on Form 10-Q and in other documents that AbbVie subsequently files with the Securities and Exchange Commission that update, supplement or supersede such information. AbbVie undertakes no obligation, and specifically declines, to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law. IGI Corporate AbbVie Investor and Media ContactsMedia Sourojit (Jit) Bhowmick, InvestorsLiz Shea
