Newsletter
Glenmark Pharmaceuticals’ arm, Glenmark Specialty S.A. (GSSA), has announced a licensing deal with Chinese drugmaker Hengrui Pharma. The deal is for GSSA’s lung and breast cancer drug, Trastuzumab Rezetecan which is still under development.
Trastuzumab Rezetecan is a cancer drug developed by Hengrui. In simple terms, the drug is not for all lung cancer patients. It’s approved only for those with a particular genetic marker and advanced disease, usually after other treatments haven’t worked.
What’s happening: the deal begins with an upfront payment of $18 million. After that, Glenmark could pay up to $1.09 billion more if the drug clears approvals and meets sales targets. Glenmark will also give Hengrui a cut from the future sales of the drug.
Why it matters: this deal gives Glenmark access to cutting-edge cancer therapy in the fast-growing field of antibody-drug conjugates (ADCs), a key area in oncology innovation. It strengthens Glenmark’s pipeline and supports its shift toward specialty medicines, while giving Hengrui a way to tap global markets without setting up its own infrastructure.
Big picture: the global antibody-drug conjugate (ADC) market is projected to grow from about $11.4 billion in 2024 to nearly $32 billion by 2034, at an annual rate of ~10.8%.
Drugs that target the HER2 gene are a big and growing part of cancer treatment, especially for breast cancer. The market for these medicines is worth about $10.2 billion in 2024 and could grow to $14.3 billion by 2029. For Glenmark, making this drug a success will depend on getting regulatory approvals, proving it works well in trials, and moving quickly to launch it in countries outside China.
Remember, this week, Alkem had launched Pertuza, a homegrown biosimilar for HER2-positive breast cancer, proven in phase 3 trials to offer safe, affordable care.
