Glenmark Pharmaceuticals' arm inks pact with Hengrui Pharma

Shares of Glenmark Pharmaceuticals closed in green after the company announced a pact with Hengrui Pharma through its wholly owned subsidiary. The shares of Glenmark Pharmaceuticals closed at ₹2,020 apiece on the NSE.

Glenmark Pharmaceuticals’ wholly owned subsidiary -- Glenmark Speciality S.A. (GSSA) has entered into an exclusive license and collaboration agreement with Hengrui Pharma for Trastuzumab Rezetecan (SHR-A1811), a next-generation HER2-targeting antibody drug conjugate (ADC).

Under the terms of the agreement, Glenmark obtains exclusive rights to develop and commercialise Trastuzumab Rezetecan (SHR-A1811) worldwide, excluding Mainland China, the Hong Kong SAR, the Macao SAR, Taiwan Region, USA, Canada, Europe, Japan, Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan and Uzbekistan.

Glenmark will pay an upfront payment of $18 million. Hengrui is eligible to receive regulatory and commercial payments of up to $1.093 billion. Based on the net sales of Trastuzumab Rezetecan within the licensed territory, Glenmark will pay corresponding royalties to Hengrui.

Glenmark Pharmaceuticals (Glenmark) is a global research-led pharmaceutical company with presence across Generics, Speciality and OTC business with operations in over 50 countries