New Delhi, July 11 -- Shares of Glenmark Pharmaceuticals were locked at a 10% upper circuit in early trade on Friday, July 11, to hit a fresh all-time high of Rs.2,094 apiece after the company said on Thursday its innovation arm, Ichnos Glenmark Innovation (IGI), and AbbVie have signed an exclusive licensing agreement for IGI's cancer treatment, adding to the U.S. firm's oncology portfolio.

Under the terms of the agreement, IGI partners with AbbVie and grants exclusive rights to globally develop, manufacture, and commercialize ISB 2001 across North America, Europe, Japan, and Greater China, while Glenmark Pharmaceuticals will develop, manufacture, and lead commercialization of ISB 2001 across emerging markets, including the rest of Asia,...