Glenmark Pharma Signs $1.1 Billion Deal with Hengrui for HER2-Targeted Antibody-Drug Conjugate

Glenmark Pharmaceuticals' wholly owned subsidiary, Glenmark Specialty S.A., has entered an exclusive license and collaboration agreement with Hengrui Pharma for Trastuzumab Rezetecan, a next-generation HER2-targeting antibody drug conjugate123.

The deal provides Glenmark with exclusive rights to develop and commercialize Trastuzumab Rezetecan across multiple regions worldwide, excluding Mainland China, Hong Kong SAR, Macao SAR, Taiwan, USA, Canada, Europe, Japan, Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, and Uzbekistan123.

Glenmark will make an upfront payment of $18 million to Hengrui, with Hengrui eligible for additional regulatory and commercial milestone payments totaling up to $1.093 billion123.

Royalties will also be paid by Glenmark to Hengrui based on net sales in the licensed territories123.

Trastuzumab Rezetecan (SHR-A1811) is described as a next-generation antibody-drug conjugate showing promise for treating various cancers, and has received approvals and designations in China and the USA2.

Sources:

1. https://www.cnbctv18.com/market/stocks/glenmark-pharma-share-price-arm-enters-1-1-billion-agreement-with-hengrui-for-oncology-drug-19687135.htm/amp

2. https://scanx.trade/stock-market-news/orders-deals/glenmark-pharma-secures-1-1-billion-deal-for-her2-targeting-cancer-therapy/20254831

3. https://upstox.com/news/market-news/stocks/glenmark-pharma-inks-cancer-drug-licensing-deal-with-hengrui-pharma-check-details-1/article-181885/