Glenmark hits a new 52 week high!

Glenmark Pharmaceuticals has teamed up with global healthcare company AbbVie to work on a promising new cancer treatment called ISB 2001. This drug is in the early stages of development and is designed to help treat multiple myeloma, which is a serious form of blood cancer. What makes this drug stand out is that it’s built to target three different proteins (trispecific antibody) linked to multiple myeloma. Most current treatments focus on just one or two, so this approach could offer a more effective way to fight the disease

Now, about the partnership:

• As part of their collaboration, AbbVie will take the lead in developing, manufacturing, and marketing the new cancer drug in major global regions — including the US, Europe, Japan, and China — where it has a strong presence and infrastructure.
• Meanwhile, Glenmark will be responsible for bringing the drug to other areas across the world, such as parts of Asia that aren’t covered by AbbVie, Latin America, the Russia/CIS region, Africa, Australia, and more.

Glenmark is the top gainer, hitting the 10% UC at Rs.2095.65, which is also a new 52-week high. About 6.14 lakh shares have been bought in the market