<ul data-eligibleForWebStory="false"><li>Glenmark subsidiary IGI has signed a $700 million deal with AbbVie on a cancer drug candidate in Phase I clinical trials for relapsed / refractory multiple myeloma.</li><li>The drug candidate was developed using IGI’s proprietary BEAT protein platform for oncology and autoimmune diseases, and AbbVie will handle all future development.</li><li>IGI could receive up to $1.225 billion in milestone payments and royalties on net sales. This deal is a significant milestone for India’s pharmaceutical industry, according to Glenmark Pharmaceuticals Ltd's Chairman.</li><li>AbbVie obtains rights for developed markets while IGI gets rights in India and emerging markets. The drug has the potential to impact the multiple myeloma treatment landscape, with sales projected at $50 billion by 2030.</li></ul>

Glenmark subsidiary IGI inks $700-m deal on cancer drug candidate with multinational AbbVie

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