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JNJ Johnson and Johnson

148.54
-1.02 (-0.68%)
25 Apr 2024 - Closed
Delayed by 15 minutes
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

Legend Biotech Achieves $50 Million Milestone Payment Under Janssen Deal

21/04/2022 2:28pm

Dow Jones News


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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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