The payment is in accordance with the agreed contractual terms
Ichnos Glenmark Innovation (IGI), Glenmark's wholly owned subsidiary, has received an upfront payment of $700 million from AbbVie.
The payment is in accordance with the agreed contractual terms and is being made towards an exclusive global licensing agreement for IGI's lead investigational asset, ISB 2001 across North America, Europe, Japan, and Greater China markets.
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