Why glenmark Is Trending Today?

Glenmark Pharma surged significantly, hitting a 52-week high and gaining up to 35% in a month, following a major drug licensing deal with AbbVie. The stock was among the top gainers, with analysts raising price targets to Rs 2,800.

Glenmark Pharma surged to a record high, up 10%, following a $700 million licensing deal for its cancer drug candidate, ISB 2001, with AbbVie. The agreement, between Glenmark's subsidiary Ichnos Glenmark Innovation (IGI) and AbbVie, involves a first-in-class CD38xBCMAxCD3 trispecific antibody. This deal has made Glenmark a key mover in the market, with analysts suggesting it as a stock to buy.