India Pharma Outlook Team | Friday, 11 July 2025
In a landmark move for India's biopharma industry, Ichnos Glenmark Innovation (IGI)—a partnership between Glenmark Pharmaceuticals and Ichnos Sciences—has signed a USD 2 billion licensing deal with AbbVie, a leading US pharmaceutical company.
In this licensing agreement, AbbVie will gain exclusive access to develop and market ISB 2001 that targets relapsed/refractory multiple myeloma (MM) in North America, Europe, Japan, and China.
The deal included an upfront payment of USD 700 million and potential milestone payments up to about USD 1.225 billion, making the AbbVie deal one of the largest oncology licensing deals from an Indian company. IGI maintains commercialization rights in emerging markets such as Asia, Latin America, Africa, and Australia.
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ISB 2001, developed using IGI’s proprietary BEAT platform, targets BCMA, CD38, and CD3 aiming to overcome resistance seen in current therapies. Early phase data demonstrate an overall response rate of 79%, of which 30% were complete responses. International oncologists and global regulatory authorities have shown significant interest in the asset. The asset is currently designated as Orphan Drug and Fast Track status with the US FDA.
This partnership exemplifies the increasing international confidence in India in biopharma innovation—and cements Glenmark's credibility as a contender in next-generation oncology products. The market responded strongly, with Glenmark shares surging to a 52-week high, reinforcing the strategic impact of the collaboration.
