Glenmark Pharmaceuticals has made a significant move in the oncology space, announcing a $1.1 billion agreement with Hengrui Pharma for the exclusive rights to a cutting-edge HER2-targeting cancer therapy across multiple regions.

Deal Highlights

• Glenmark's wholly-owned subsidiary, Glenmark Specialty S.A. (GSSA), has entered into an exclusive license and collaboration agreement with Hengrui Pharma.
• The agreement covers Trastuzumab Rezetecan (SHR-A1811), a next-generation HER2-targeting antibody drug conjugate (ADC).
• Glenmark will pay an upfront payment of $18.00 million to Hengrui.
• Hengrui is eligible to receive regulatory and commercial milestone payments of up to $1.09 billion.
• Glenmark will also pay royalties to Hengrui based on the net sales of Trastuzumab Rezetecan within the licensed territory.

Geographical Coverage

The deal provides Glenmark with exclusive rights to develop and commercialize Trastuzumab Rezetecan worldwide, with notable exceptions including:

• Mainland China
• Hong Kong SAR
• Macao SAR
• Taiwan Region
• USA
• Canada
• Europe
• Japan
• Russia and several CIS countries

Trastuzumab Rezetecan: A Promising Therapy

Trastuzumab Rezetecan (SHR-A1811) is Hengrui's self-developed HER2-targeted ADC, which has shown promising results:

• Approved in China for treating adult patients with HER2 activating mutations in unresectable locally advanced or metastatic non-small cell lung cancer (NSCLC).
• First China-developed ADC approved for HER2-mutated NSCLC.
• New indication for breast cancer accepted by China's NMPA for review.
• Included in the NMPA's Breakthrough Therapy Designation list for nine indications, covering various cancer types.
• Received Orphan Drug Designation from the US FDA for gastric or gastroesophageal junction adenocarcinoma.

Strategic Implications

Glenn Saldanha, Chairman and Managing Director of Glenmark Pharmaceuticals Limited, stated, "This partnership aligns strongly with our strategy to bring differentiated, high-value therapies to patients and reinforces our commitment to advancing innovation in areas of significant unmet need."

The collaboration marks a significant step in Glenmark's focused oncology strategy, particularly in complex biologics. It underscores the company's long-term commitment to delivering next-generation therapies across high-burden, underserved geographies.

About Glenmark Pharmaceuticals Ltd.

Glenmark Pharmaceuticals is a research-led, global pharmaceutical company with a presence across Branded, Generics, and OTC segments. The company focuses on therapeutic areas of respiratory, dermatology, and oncology. With 11 world-class manufacturing facilities across 4 continents and operations in over 80 countries, Glenmark is ranked among the Top 100 biopharmaceutical companies by Scrip 100 and in the Top 50 Generics and biosimilar companies by Generics Bulletin.

This strategic partnership with Hengrui Pharma not only strengthens Glenmark's oncology portfolio but also positions the company to potentially make significant advancements in cancer treatment, particularly in HER2-targeted therapies.

Glenmark Pharmaceuticals , a prominent player in the pharmaceutical industry, has announced a revision to its previously communicated plans regarding the interim dividend for the financial year 2025-26. The company has now set a new record date of October 3, 2025, for the payment of this interim dividend.

Updated Record Date

In a formal intimation to both the BSE and the National Stock Exchange of India (NSE), Glenmark Pharmaceuticals disclosed the revised record date. This announcement, signed by Company Secretary Harish Kuber, updates the earlier information provided by the company.

Board Meeting Details

The pharmaceutical giant had previously scheduled a board meeting for September 26, 2025. The primary agenda for this meeting remains the consideration and approval of an interim dividend on equity shares for the financial year 2025-26.

Dividend Consideration

While the company has revised the record date, the board meeting to consider and potentially approve the interim dividend remains a crucial event for shareholders. The outcome of this meeting will determine whether an interim dividend will be distributed and, if so, its amount.

Regulatory Compliance

Glenmark's actions align with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015. This regulation mandates listed entities to inform stock exchanges about board meetings where matters such as dividend declarations are to be considered.

Implications for Shareholders

The revision of the record date to October 3, 2025, means that shareholders on the company's records as of this date will be eligible to receive the interim dividend, should it be approved by the board. This change gives potential investors additional time to consider their position in Glenmark Pharmaceuticals.

Investors and market watchers will continue to monitor developments closely, as the potential interim dividend could provide additional returns for Glenmark's shareholders. However, it's important to note that the declaration of an interim dividend remains subject to the board's approval and is not guaranteed.

Glenmark Pharmaceuticals demonstrates its commitment to shareholder value and regulatory compliance through these timely disclosures and structured corporate actions, even as it makes necessary adjustments to its financial calendar.