Glenmark Specialty S.A., a subsidiary of Glenmark, has entered into an exclusive licensing and collaboration agreement with Chinese drugmaker Hengrui Pharma for the cancer therapy Trastuzumab Rezetecan (SHR-A1811). Under the terms of the deal, Glenmark will make an upfront payment of USD 18 million and may pay up to USD 1.093 billion in regulatory and commercial milestone payments, in addition to royalties tied to future sales.

Glenmark has obtained rights for select markets—including India—to develop, register and commercialise the therapy, while several major geographies such as the U.S., Europe, China and Japan are excluded from the license. Trastuzumab Rezetecan is a next-generation HER2-targeting antibody-drug conjugate (ADC), already approved in China for certain HER2-mutated non-small cell lung cancer cases and under review for additional indications.

The ADC operates via a targeted mechanism: it combines a monoclonal antibody that recognises HER2 with a cytotoxic payload, intended to deliver the drug selectively to tumours and spare healthy cells. In issuing the announcement, Glenmark’s chairman and managing director, Glenn Saldanha, said the collaboration aligns closely with the company’s strategy to bolster its oncology portfolio with high-value, differentiated therapies.

Hengrui Pharma viewed the deal as part of its effort to deepen presence in emerging markets. The licensing agreement reflects a growing trend of Chinese biopharma firms monetising innovative assets globally through partnerships.

Industry observers see this transaction as significant for Glenmark, reinforcing its transition from generics and biosimilars into more complex and value-driven therapies. The deal is among the larger oncology licensing agreements seen out of India this year, signalling confidence in the commercial potential of HER2-directed ADCs in growth markets.