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India Ratings has revised the outlook on Glenmark Pharmaceuticals' long-term bank facilities to 'Positive' while affirming the rating at 'IND AA'. This upgrade is driven by improved revenue visibility for its subsidiary, Ichnos Glenmark Innovation (IGI), following a significant global licensing deal with AbbVie Inc. for its ISB 2001 molecule. Post regulatory clearance, IGI is set to receive an upfront payment of INR6,000 Cr and up to USD1.225 billion in milestone payments. This substantial inflow, combined with Glenmark's improved operating profitability in FY25 (ROCE at 15.7%) and strong credit profile (net leverage 0.34x), significantly bolsters its liquidity and financial flexibility, positively impacting investor confidence and strategic operational room.