Glenmark Pharmaceuticals rises as its arm signs license agreement with Jiangsu Alphamab, 3DMed
![](https://portfolio.investmentguruindia.com/uploads/news/Pharma Sector 56.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Glenmark Pharmaceuticals is currently trading at Rs. 903.75, up by 12.90 points or 1.45% from its previous closing of Rs. 890.85 on the BSE.
The scrip opened at Rs. 890.85 and has touched a high and low of Rs. 906.50 and Rs. 889.75 respectively. So far 3133 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 915.95 on 15-Jan-2024 and a 52 week low of Rs. 369.50 on 30-Jan-2023.
Last one week high and low of the scrip stood at Rs. 906.50 and Rs. 853.80 respectively. The current market cap of the company is Rs. 25136.95 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 34.67% and 18.69% respectively.
Glenmark Pharmaceuticals’ subsidiary -- Glenmark Specialty S.A. (GSSA) has signed a license agreement with Jiangsu Alphamab Biopharmaceuticals Co., (Jiangsu Alphamab) and 3D Medicines (BEIJING) Co., (3DMed), (together as the Licensors), for KN035 (Envafolimab) for India, Asia Pacific, Middle East and Africa, Russia, CIS, and Latin America (the Territory).
Under the terms of the agreement, GSSA will receive from Jiangsu Alphamab and 3DMed, an exclusive license to develop, register, commercialize, Envafolimab for the oncology indication in the Territory. Jiangsu Alphamab will be the exclusive supplier of the product. Jiangsu Alphamab (on behalf of the Licensors) will receive a low double digit Million US Dollar amount up to launch, additional triple digit Million US Dollar milestone payments based on sales performance across the length of the agreement, and a royalty fee of single-to-double-digits percentage according to the level of net sales.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
![](https://portfolio.investmentguruindia.com/uploads/news/insurance 123.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities Ltd.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Wipro.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/2b1715f7e03b51b0ac9c014eb224fc1f.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/gdp22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar retures 2.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/health22.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Arvind Kapil, MD and CEO, Poonawalla Fincorp.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/stock8.jpg)
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Pharma 06.03.2024.jpg)
Glenmark Pharmaceuticals gains on getting final approval for Topiramate Capsules
![Glenmark moves up as its arm gets USFDA`s approval for Esomeprazole Magnesium Delayed-Release Capsules](https://portfolio.investmentguruindia.com/uploads/news/Pharma Sector 28.jpg)
![Neutral Glenmark Pharma Ltd For Target Rs.820 - Motilal Oswal Financial Services](https://portfolio.investmentguruindia.com/uploads/news/Glenmark Pharmaceuticals Ltd.jpg)
![Glenmark inches up on getting USFDA`s final approval for Brimonidine Tartrate and Timolol Maleate Ophthalmic Solution](https://portfolio.investmentguruindia.com/uploads/news/Pharma_5.jpg)