On July 12, "The Wall Street Insider" cited a report from an unnamed source, Legend Biotech（LEGN）Received an acquisition offer and hired the investment bank Centerview Partners to assist the board in reviewing the acquisition bid and other options; the identity of the bidder remains unclear.Legend BiotechResponded to requests for comments from "The Wall Street Insider" and Seeking Alpha.Legend Biotech's market value is close to 10 billion US dollars.Legend BiotechWill announce its second-quarter earnings on August 9.Legend BiotechCollaborate with Johnson & Johnson to sell BCMA CAR-T cell therapy,Its competitor 2Seventy Bio (TSVT), which also sells a similar drug with Bristol-Myers Squibb (BMY), rose 7% as well.Considering the deep cooperation between Legend Biotech and Johnson & Johnson, it is highly likely that Legend Biotech has received an acquisition offer from Johnson & Johnson, with a premium possibly ranging from 30% to 50%. The acquisition price could be between $13 billion and $15 billion.In 2018, Celgene acquired Juno Therapeutics for $9 billion. This deal enabledJunoThe stock price increased by approximately 50%; since the acquisition rumors began to circulate, the price has steadily risen. After the terms of the deal were confirmed, Juno's stock price surged another 27% in pre-market trading, representing a 29% premium over the previous trading day before the announcement.
On August 28, 2017, Gilead acquired Kite Pharma for $11.9 billion, with an acquisition price of $180.00 per share, representing a 29% premium over Kite's closing price on August 25 (Friday) and a 50% premium over the company’s 30-day volume-weighted average stock price. Centerview Partners served as Kite’s exclusive financial advisor.
On July 2, Legend Biotech announced positive overall survival (OS) results from the CARTITUDE-4 study in Somerset, New Jersey, USA. This is an ongoing global, randomized, open-label Phase 3 study evaluating CARVYKTI® (cilta-cel, ciltacabtagene autoleucel) versus pomalidomide, bortezomib, and dexamethasone (PVd) or daratumumab, pomalidomide, and dexamethasone (DPd) in adult patients with relapsed and lenalidomide-refractory multiple myeloma. These patients had previously received one to three prior lines of therapy, including a proteasome inhibitor (PI) and an immunomodulatory agent (IMiD). In the pre-specified second interim analysis of the trial, CARVYKTI® demonstrated a statistically significant and clinically meaningful improvement in overall survival (OS).
Legend Biotech, established 9 years ago with over 2000 employees, was the first to develop BCMA CAR-T and achieve global commercialization. Its product pipeline covers both hematologic malignancies and solid tumors, with core technologies also encompassing universal CAR-T, CAR-NK, and γδ-T. Globally, it operates 6 manufacturing plants, including one contract manufacturing facility for Novartis. The company holds $1.3 billion in cash. Reply "Legend Biotech" to receive the PPT.
Last year, the whole yearCARVYKTISales revenue of $500 million. In Q1 this year, CARVYKTI achieved $156 million in revenue, representing a 118% increase compared to the same period last year.
Follow the official account below to see the world!
