Glenmark Pharmaceuticals Limited has informed the Exchange regarding a press release dated September 24, 2025, titled "Glenmark Strengthens Oncology Portfolio with Hengrui s HER2 Targeting ADC For Multiple Regions".
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On the reaction day the stock moved 0.9 pts more than Nifty Midcap 150 and 1.1 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Glenmark's wholly owned subsidiary Glenmark Specialty S.A. has signed an exclusive license and collaboration agreement with Hengrui Pharma for Trastuzumab Rezetecan (SHR-A1811), a next-generation HER2-targeting antibody drug conjugate (ADC) for cancer treatment. Under the deal, Glenmark gets exclusive development and commercialization rights worldwide, excluding key markets like Mainland China, Hong Kong, Macao, Taiwan, USA, Canada, Europe, Japan, and Russia. Glenmark will pay an upfront fee of US$18 million, with Hengrui eligible for regulatory and commercial milestone payments of up to US$1.093 billion, plus royalties on net sales. The drug was approved in China in May 2025 for HER2-mutated NSCLC, with a breast cancer indication accepted for priority review in September 2025, and has US FDA Orphan Drug Designation for gastric cancer.
Positive for the stock as it strengthens Glenmark's oncology pipeline with a promising late-stage biologic at a low upfront cost, though the exclusion of US/Europe/China caps the total addressable opportunity. The deal reinforces the company's innovation-led strategy in complex biologics and high-burden cancer therapy areas, which could drive long-term growth if the drug achieves commercial success in the licensed emerging markets.