Glenmark Pharma shares traded 2% lower at Rs 2,283.80 on 5 October, even as CMD Glenn Saldanha outlined a push into innovative drugs.

The drugmaker is moving beyond a business built mostly on generics, which are copies of drugs whose patents have expired.

Saldanha said Glenmark is excited about a couple of molecules in its pipeline. He gave no further details. Money from the AbbVie deal will help fund the shift.

Saldanha said Glenmark plans to put $700 million from it into innovation, including its work on multi-specific antibodies. These are drugs built to act on more than one target at once.

That deal covers ISB 2001, an experimental drug being developed for cancer and immune diseases.

Sources reported that Glenmark’s innovation arm, Ichnos Glenmark Innovation, gave AbbVie exclusive rights to develop, make and sell it in North America, Europe, Japan and Greater China.

The report is dated July 2025. Glenmark also plans to enter GLP-1 drugs, which treat diabetes and obesity, with generic versions. Then there is the US business.

In August, Executive Director and Global CFO Anurag Mantri said US revenue should top $430 million in FY27 and keep growing 10% to 12% a year.

He expected an operating profit margin of 21% to 22%. New respiratory launches and the ramp-up of the Monroe plant should help, he said, and the company saw no immediate hit from possible US tariffs on generics.

At 13:46 pm on NSE, Glenmark shares traded at Rs 2,283.80, down Rs 47.20 or 2.02% from the previous close of Rs 2,331.00.

The stock touched a high of Rs 2,340.50 early in the session, only about 0.4% above that close, and slipped as low as Rs 2,273.50. It has lost 6.31% over a month but remains up 12.69% so far this year.

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