Glenmark Specialty S.A., a wholly owned subsidiary of Glenmark Pharmaceuticals, on Wednesday clinched an exclusive licensing agreement with China-based Hengrui Pharmaceuticals for the cancer therapy drug Trastuzumab Rezetecan (SHR-A1811). The deal, among the largest in Glenmark’s oncology push, grants the Indian firm rights to develop and commercialise the drug across most global markets, with certain exclusions.
Under the terms, Glenmark will pay an upfront fee of US$18 million, followed by potential regulatory and commercial milestone payments up to US$1.093 billion. In addition, Hengrui will receive royalties based on net sales in the territories covered.
The licence excludes Mainland China, Hong Kong SAR, Macao SAR, Taiwan, the United States, Canada, Europe, Japan, Russia and several Central Asian countries among others. Glenmark will cover the rest of the world under the agreement.
Trastuzumab Rezetecan is a next-generation HER2-targeting antibody drug conjugate (ADC). It was approved in China in May 2025 for adult patients with HER2-activating mutations in unresectable locally advanced or metastatic non-small cell lung cancer who had already undergone at least one prior systemic therapy. Clinical study applications are underway or under review for additional indications such as breast cancer, among others.
With this transaction, Glenmark aims to strengthen its oncology pipeline significantly. Glenn Saldanha, Chairman and Managing Director of Glenmark, said the collaboration aligns with the company’s strategy to bring differentiated, high-value therapies to patients and underscores its commitment to advancing innovation in areas with unmet need. Jo Feng, President of Hengrui, described the deal as a strategic step toward deepening the company’s presence in emerging markets and expanding access to innovative treatments in more countries.
Analysts observe that Glenmark is leveraging this deal to ride the wave of demand for targeted cancer treatments, especially in markets outside the U.S., Europe and other highly regulated territories where regulatory costs and competition are steep. ADCs like Trastuzumab Rezetecan are viewed as high-potential due to their mode of action — delivering anti-cancer agents directly to tumour cells while sparing healthy tissue — which may offer advantages in efficacy and tolerability.
The agreement comes at a time when global pharmaceutical firms are increasingly partnering across borders to accelerate access to novel oncology drugs. For Glenmark, this deal represents a major milestone in establishing itself as a serious player in the high-stakes market of ADCs and biologics, complementing its existing strengths in generics and differentiated therapies.
Also Read: Swiggy Exits Rapido, Hives Off Instamart to Step-Down Arm in Major