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“We think a deal for (ISB) 2001 will really be transformational for Glenmark,” said Glenn Saldanha
Glenmark Pharmaceuticals is in talks with global drugmakers for a licensing deal on its ISB 2001 drug candidate being developed for use in the treatment of multiple myeloma, top executives with the drugmaker said, outlining growth plans that included making diabetes and weightloss drug semaglutide for India.
The company is in “advanced discussions with multiple partners, all big pharma partners,” Glenn Saldanha, Chairman & Managing Director, Glenmark Pharmaceuticals Ltd (GPL), told analysts, adding that a “positive outcome” could be expected soon.
“We think a deal for (ISB) 2001 will really be transformational for Glenmark. And it will overshadow anything else that we are doing in the near term. …You should see some visibility around a licensing deal pretty quickly,” he added.
ISB 2001 is part of the innovative pipeline of Ichnos Glenmark Innovation (IGI) – an alliance between Glenmark’s US-based biotech subsidiary Ichnos Sciences and GPL – that had received the United States Food and Drug Administration’s fast-track designation in May, 2025, as a treatment for patients with relapsed/refractory multiple myeloma. Two of GPL’s drug candidates in immunology have already been partnered out – ISB 880 and ISB 830.
Giving details on ISB 2001, a company official said, it is among the first trispecific antibodies developed for use in multiple myeloma. It had received orphan drug designation from the FDA in July 2023, besides the recent fast track designation, as a treatment for patients with relapsed refractory multiple myeloma, “specifically patients who have received 3 or more prior lines of treatment.“ IGI will also be presenting data on this candidate at the upcoming ASCO (American Society of Clinical Oncology) conference, in a few days.
Semaglutide opportunity
Glenmark is also throwing its hat in the opportunity that opens up when semaglutide, the popular diabetes and weightloss product, goes off patent next year. Industry peers including Cipla, Lupin and Mankind, for example have stated their intent to participate in this opportunity for the drug, popular globally by its brand name Ozempic / Wegovy. Novo Nordisk, the maker of Wegovy (the injectible drug) is expected to bring in this product shortly. The oral version of semaglutide already sells in India.
Swiss facility ceases ops
Meanwhile, Glenmark pointed to IGI’s announcment in March and said, all its clinical supply manufacturing at its facility in La Chaux-de-Fonds, Switzerland would cease. “As IGI is progressing its pipeline, it is anticipated that higher quantities of finished product will be required for future clinical programs and IGI CMC (chemistry, manufacturing, and controls) development and ongoing future clinical programs — manufacturing of ongoing clinical programs will be moved to a network of well-established global contract development and manufacturing organisations,” the representative said.
The development comes about 10 years after this facility was opened – to supplement Glenmark’s existing in-house discovery and development capabilities by supplying material for clinical development, the company had then said.
For the year ended March 31, 2025, Glenmark’s consolidated revenue stood at 13,321 crore, up 12.8 per cent over last year. Adjusted profit after tax (PAT) for the year ended March 31, 2025 was at 1,389 crore.
Published on May 28, 2025
This article first appeared on The Hindu Business Line
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