On Wednesday, Glenmark Pharmaceuticals announced a significant licensing agreement with Hengrui Pharma. Under the terms of the deal, Glenmark’s subsidiary, Glenmark Specialty S.A. (GSSA), has secured exclusive rights to Trastuzumab Rezetecan (SHR-A1811), a next-generation cancer treatment.
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Trastuzumab Rezetecan is a HER2-targeting antibody drug conjugate (ADC), a type of therapy that specifically targets and destroys cancer cells while sparing healthy ones. It’s a key drug for Hengrui Pharma, having already been approved in China in May 2025 for treating certain types of lung cancer. It also received priority review status for breast cancer in September 2025.
Financials of the Agreement
The agreement is a substantial one, valued at up to $1.1 billion. Here’s the breakdown:
- Upfront Payment: Glenmark will pay Hengrui an initial $18 million.
- Milestone Payments: Hengrui is eligible for an additional $1.093 billion based on the achievement of regulatory and commercial milestones.
- Royalties: Glenmark will also pay royalties to Hengrui on future drug sales.
Glenmark has obtained the rights to commercialize the drug in numerous global markets, excluding key regions like China, the US, Canada, Europe, and Japan. This partnership expands Glenmark’s oncology pipeline and is a strategic move to bring new therapies to patients in areas of significant unmet need.
Following the announcement, shares of Glenmark Pharmaceuticals ended the day up by 0.17% on the BSE.
