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Glenmark-AbbVie $2-bn deal lifts optimism over biotechnology stocks
Financial Express Ahmedabad
|July 12, 2025
STOCK JUMPS TO RECORD
GLENMARK PHARMACEUTICALS' UP to $2-billion deal 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 on Friday. Peers such as Sun Pharmaceutical and Biocon also gained following the announcement.
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