Shares of Glenmark Pharmaceuticals Ltd dropped 1% after touching a day’s high of Rs 1,976.70 on 17th December, despite the company saying on Tuesday (16th December) that its wholly owned subsidiary, Glenmark Specialty S.A. (GSSA), has entered into an exclusive licensing, collaboration, and distribution agreement with Jiangsu Hansoh Pharmaceutical Group Co Ltd for Aumolertinib, a third-generation epidermal growth factor receptor tyrosine kinase inhibitor for the treatment of non-small cell lung cancer.

Glenmark has exclusive rights to develop and sell Aumolertinib in the Middle East, Africa, South and Southeast Asia. They also have rights in Australia, New Zealand, Russia/CIS, and select Caribbean countries.

Hansoh Pharma will get an upfront payment in the low double-digit million USD. There are also potential milestone payments over $1 billion and tiered royalties.

Glenmark’s Chairman said the drug strengthens its pipeline and improves access to advanced lung cancer care.

Aumolertinib (marketed as Ameile in China and Aumseqa in the UK/Europe) is approved for EGFR-mutated and T790M-positive advanced NSCLC. In China, it is also approved for four indications.

It is Hansoh Pharma’s first innovative drug approved overseas and the first China-developed EGFR-TKI launched internationally.

At 11:41 AM, shares of Glenmark were trading 0.55% lower at Rs 1,955.70 on NSE.

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