Glenmark inks $18 million deal for cancer drug with China’s Hengrui

Glenmark Pharmaceuticals Ltd on Wednesday announced a licensing deal with Chinese drugmaker Hengrui Pharma for its under-development lung and breast cancer drug. The deal involves an upfront payment of $18 million, followed by regulatory and commercial milestone payments of up to $1.093 billion, as well as royalties.

Glenmark Specialty S.A., a wholly-owned subsidiary of the Mumbai-based drugmaker, signed the exclusive license and collaboration agreement with Hengrui for its drug, Trastuzumab Rezetecan (SHR-A1811).

Trastuzumab Rezetecan is a next-generation antibody drug conjugate (ADC) targeting HER2-positive cancers. ADCs combine an antibody and a chemotherapy drug, and the antibody delivers the chemotherapy drug directly to the cancer cells.

Two other HER2-positive ADCs have been launched in India: Zydus Cadila’s Ujvira (Trastuzumab emtansine) and AstraZeneca India-Daiichi Sankyo’s Enhertu (Trastuzumab deruxtecan).

In May 2025, the drug was approved in China for treating adult patients with non-small cell lung cancer—which is either inoperable or metastatic—and has been treated with at least one prior systemic therapy.

Currently, Trastuzumab Rezetecan is actively advancing multiple clinical trials. In August 2025, the drug, in combination with adebrelimab and chemotherapy, obtained Orphan Drug Designation from the US Food and Drug Administration (FDA) for gastric or gastroesophageal junction adenocarcinoma (stomach cancer).

Under the deal, Glenmark can develop and commercialize the drug in emerging markets. These exclude China, the US, Canada, Europe, Japan, Russia, and the Commonwealth of Independent States (CIS) region.

Based on the net sales within the licensed territory, Glenmark will pay corresponding royalties to Hengrui.

Oncology focus

“We are delighted to collaborate with Hengrui and build on the scientific momentum of SHR-A1811 as we continue expanding our oncology pipeline and leadership,” said Glenn Saldanha, chairman and managing director, Glenmark Pharmaceuticals.

The company is building an oncology pipeline in complex biologics, with a focus on delivering next-generation therapies across high-burden, underserved markets.

In May 2024, the company entered into an agreement with BeOne (formerly BeiGene) to market and distribute the cancer medicines Tislelizumab and Zanubrutinib. The company launched both products in India at the end of Q1 FY26.

In July 2025, Glenmark’s US-based unit Ichnos Glenmark Innovation (IGI) licensed its under-development blood cancer drug to Chicago-based AbbVie Inc. for $700 million, marking the biggest outlicensing deal for any Indian drugmaker.

AbbVie is expected to pay as much as $1.23 billion as various milestones are completed. IGI has other assets in development, including ISB 2301—which is in the discovery stages for application in solid tumors.

“We will continue to develop assets, take them to a certain level, and continue development on our own or with a partner at a later stage," Saldanha told Mint in an earlier conversation.

Glenmark’s share price closed 0.2% higher at ₹2,020.10 apiece on the National Stock Exchange on Wednesday.