Pharma BD Deal Intelligence
Glenmark's specialty subsidiary (Glenmark Specialty S.A.) obtained exclusive rights to develop and commercialize Hengrui's HER2-ADC trastuzumab rezetecan (SHR-A1811) across ~80+ emerging markets (ex-China, US, Canada, Europe, Japan, Russia and CIS). $18M upfront and up to $1.093B in milestones plus tiered royalties. The asset was the first China-developed ADC approved for HER2-mutated NSCLC (May 2025 NMPA approval) and added a second China indication, HER2-positive breast cancer, around March 2026 on the back of the positive Phase 3 HORIZON-Breast01 readout (median PFS 30.6 vs 8.3 months; HR 0.22). It positions as an emerging-markets rival to AstraZeneca/Daiichi Sankyo's Enhertu.