Glenmark Pharmaceuticals Ltd on Tuesday said its wholly owned subsidiary, Ichnos Glenmark Innovation (IGI), has received an upfront payment of $700 million from US-based AbbVie Inc.

The payment is part of the exclusive global licensing agreement announced in July 2025 for IGI’s lead investigational asset, ISB 2001. The deal covers key markets including North America, Europe, Japan, and Greater China.

Glenmark confirmed that the payment aligns with the agreed contractual terms under the partnership.