Glenmark Pharma jumps on unit's cancer licensing deal with AbbVie
1. Glenmark Pharmaceuticals shares rose 10% after licensing deal with AbbVie. 2. The deal involves a cancer treatment, potentially affecting ABBV's future revenues.
FAQ
Why Bullish?
The licensing agreement signifies potential revenue growth for AbbVie, similar to past deals that led to stock price increases in the pharmaceutical sector.
How important is it?
The deal could enhance AbbVie's portfolio and revenue outlook; similar agreements in the past have resulted in positive stock performance.
Why Long Term?
Licensing agreements typically contribute sustained revenue over time; historical trends show lasting effects.