S&P Says Glenmark Pharma Set to Turn Cash Positive Following AbbVie Licensing Deal

Glenmark Pharmaceuticals will turn net cash positive on its licensing deal with AbbVie Inc, according to S&P Global Ratings on Thursday.

Glenmark Pharmaceuticals a Mumbai-based global pharmaceutical company (Source: instagram)

The agreement will further strengthen the company's financial position and liquidity, reversing results that led to a reported net debt of Rs 4.9 billion last year, it said in a statement.

On July 11, 2025, Glenmark, through wholly-owned subsidiary IGI Therapeutics SA, announced an exclusive licensing agreement with AbbVie for ISB 2001, a lead investigational asset, developed by IGI, targeted for the treatment of cancer and autoimmune diseases.