11-07-2025
Glenmark-AbbVie Deal Lifts Optimism on India's Biotech Stocks
Glenmark Pharmaceuticals Ltd. 's licensing pact with AbbVie Inc. for its blood cancer drug is boosting optimism over Indian biotechnology stocks, with some brokerages calling it the largest such deal in the country.
The agreement by the Indian firm's unit — which includes an upfront amount of $700 million and milestone payments of as much as $1.23 billion — sent the Glenmark stock as much as 20% higher to a record Friday. Peers such as Sun Pharmaceutical Industries Ltd. and Biocon Ltd. also gained following the announcement.
