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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Johnson and Johnson | NYSE:JNJ | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-1.02 | -0.68% | 148.54 | 148.99 | 146.86 | 148.18 | 9,756,260 | 01:00:00 |
By Chris Wack
Legend Biotech Corp. said it achieved a $50 million milestone under its collaboration agreement with Janssen Biotech Inc. for ciltacabtagene autoleucel, now marketed in the U.S. under the brand name Carvykti.
Cilta-cel is a B-cell maturation antigen-directed chimeric antigen receptor T-cell therapy.
Legend Biotech said it agreed with Janssen to develop, manufacture and commercialize cilta-cel for the treatment of multiple myeloma. Legend Biotech received an upfront payment of $350 million and is entitled to receive additional payments upon achievement of landmarks for development, production performance, regulatory and sales.
The global agreement specifies a 50-50 cost and profit-sharing agreement in all markets, excluding greater China, where the split is 70% for Legend and 30% for Janssen.
Including the $50 million payment, Legend has achieved $300 million in milestone payments during the collaboration.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 21, 2022 09:13 ET (13:13 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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