Legend Biotech Corporation | research notes

Legend Biotech Corporation: A Leader in Antibody Drug Conjugates

Overview

Legend Biotech Corporation is a global biotechnology company dedicated to discovering and developing innovative antibody drug conjugates (ADCs) for the treatment of cancer. Headquartered in Rockville, Maryland, USA, Legend has operations in China, the United States, and Europe.

History

Founded in 2009, Legend Biotech originated from a research program at the University of California, San Francisco. The company's initial focus was on developing ADCs that target specific tumor antigens. In 2015, Legend partnered with Janssen Biotech, a subsidiary of Johnson & Johnson, to accelerate the development and commercialization of its ADC pipeline.

ADC Technology

Antibody drug conjugates are a class of targeted therapies that combine the specificity of monoclonal antibodies with the cytotoxicity of chemotherapy drugs. Legend Biotech employs a proprietary ADC platform called the ADCET technology. ADCET utilizes high-affinity antibodies to deliver cytotoxic payloads directly to tumor cells, minimizing systemic toxicity.

Product Pipeline

Legend Biotech's product pipeline includes multiple ADC candidates in various stages of development. The company's lead product, Cadonilimab (CD371 ADC), has demonstrated promising clinical results in patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL).

Other ADC candidates in Legend's pipeline include:

• LBA43 (CD22 ADC) for the treatment of non-Hodgkin lymphoma and acute lymphoblastic leukemia
• LB100 (CD30 ADC) for the treatment of T-cell lymphoma and Hodgkin lymphoma
• LB101 (SSEA4 ADC) for the treatment of hepatocellular carcinoma and lung cancer

Strategic Partnerships

Legend Biotech has established several strategic partnerships with pharmaceutical companies to accelerate the development and commercialization of its ADC pipeline. These partnerships include:

• Janssen Biotech for Cadonilimab
• Genmab for LB100
• Incyte for LB101

Market Opportunity

The global market for cancer drugs is expected to reach $215 billion by 2030. The ADC market is a rapidly growing segment within this space, driven by the increasing prevalence of cancer and the need for more effective and targeted therapies.

Conclusion

Legend Biotech Corporation is a pioneer in the development of antibody drug conjugates for the treatment of cancer. With a promising product pipeline and strategic partnerships, the company is well-positioned to capitalize on the growing market for targeted cancer therapies. As Legend Biotech continues to advance its research and clinical programs, it has the potential to transform the lives of cancer patients around the world.

Legend Biotech Corporation Business Model

Legend Biotech Corporation is a biopharmaceutical company focused on developing and commercializing innovative therapies for cancer and other serious diseases. Its business model revolves around:

• Drug Discovery and Development: Legend invests heavily in research and development to identify and develop novel drug candidates. It has a robust pipeline of potential therapies in various stages of development.
• Manufacturing and Distribution: Legend manufactures its own drugs through its state-of-the-art facilities. It also establishes partnerships with contract manufacturers to ensure consistent and reliable supply.
• Commercialization and Marketing: Legend leverages its global sales force and marketing channels to promote and distribute its products. It builds relationships with healthcare providers, payers, and patient advocacy groups to maximize market penetration.
• Strategic Partnerships: Legend seeks strategic partnerships with biotechnology and pharmaceutical companies to enhance its capabilities, expand its pipeline, and reach new markets.
• Licensing and Out-Licensing: Legend licenses in and out-licenses drug technologies, allowing it to access promising therapies and generate revenue from its intellectual property.

Advantages to Competitors

Legend Biotech Corporation stands out from its competitors with several key advantages:

• Strong Research and Development Capabilities: Legend has invested heavily in its research and development team, leading to a robust pipeline of innovative drug candidates.
• Novel and Differentiated Therapies: Legend's therapies address unmet medical needs and offer unique mechanisms of action, setting it apart from competitors.
• Manufacturing Expertise: Legend's own manufacturing facilities ensure control over production quality and timely delivery of its drugs.
• Global Reach: Legend has a global presence with operations in multiple countries, giving it access to diverse markets.
• Strategic Partnerships: Legend's strategic partnerships with industry leaders enhance its capabilities and expand its market reach.
• Focus on China: Legend has a strong foothold in China, a rapidly growing pharmaceutical market, providing it with a competitive advantage.
• Financial Stability: Legend's strong financial position allows it to invest in research, development, and commercialization efforts.

Legend Biotech Corporation Company Outlook

Company Overview

Legend Biotech Corporation is a global biotechnology company focused on developing and commercializing innovative therapies for patients with cancer. Headquartered in Beijing, China, the company has a presence in the United States, Europe, and Asia-Pacific regions.

Market Position

Legend Biotech is a leading player in the development of bispecific antibodies for cancer treatment. Its flagship product, CARVYKTI (ciltacabtagene autoleucel), is the first FDA-approved BCMA-directed CAR T-cell therapy for the treatment of relapsed/refractory multiple myeloma.

The company's pipeline includes multiple other bispecific antibody candidates targeting various tumor antigens. These candidates are in various stages of clinical development, with several poised to enter pivotal trials in the near future.

Financial Performance

Legend Biotech has experienced strong financial growth in recent years. In 2021, the company reported total revenue of $719.6 million, a 137% increase from the previous year. CARVYKTI accounted for the majority of the company's revenue.

The company remains profitable, with a net income of $190.9 million in 2021. Legend Biotech has a strong balance sheet with cash and cash equivalents of $1.2 billion.

Growth Prospects

Legend Biotech has several drivers of future growth:

• Expanding CARVYKTI Market: CARVYKTI was initially approved for the treatment of relapsed/refractory multiple myeloma. The company is pursuing additional indications, such as newly diagnosed multiple myeloma and other hematologic malignancies.
• Robust Pipeline: Legend Biotech's pipeline of bispecific antibodies targets a wide range of tumor antigens. The company has several candidates expected to enter pivotal trials in the next 12-18 months.
• Geographic Expansion: The company is expanding its commercial presence globally. Legend Biotech has partnerships with leading pharmaceutical companies in Europe and Asia to market and distribute its products.
• Strategic Acquisitions: Legend Biotech has made several acquisitions to strengthen its pipeline and expand its capabilities. The company acquired Argenx in 2021, gaining access to a pipeline of next-generation antibody therapies.

Valuation

As of June 2023, Legend Biotech Corporation has a market capitalization of approximately $3.4 billion. The company's valuation reflects its strong revenue growth, robust pipeline, and potential for market expansion.

Risks

Legend Biotech faces several risks, including:

• Competition: The cancer immunotherapy market is highly competitive, with several other companies developing similar therapies.
• Clinical Trial Risk: The success of the company's pipeline candidates depends on the results of ongoing clinical trials.
• Manufacturing Challenges: The production of CAR T-cell therapies is complex and requires specialized facilities. Any manufacturing issues could impact the availability of CARVYKTI.
• Regulatory Risk: The development and commercialization of new cancer therapies is subject to regulatory approval.

Overall Outlook

Legend Biotech Corporation has a strong outlook for continued growth. The company's flagship product, CARVYKTI, is gaining market share and has the potential to expand into additional indications. The company's robust pipeline and strategic acquisitions position it for leadership in the development of bispecific antibodies for cancer treatment.

Similar Companies to Legend Biotech Corporation (LEGN)

1. BeiGene, Ltd. (BGNE)

• Website: https://www.beigene.com
• Customer Appeal: BeiGene is a leading biotechnology company focused on developing and commercializing innovative cancer therapies in China and globally. Customers may like it because of its strong pipeline of drugs and its partnership with Amgen.

2. Innovent Biologics, Inc. (INO)

• Website: https://www.innoventbio.com
• Customer Appeal: Innovent Biologics is a leading biopharmaceutical company in China that develops, manufactures, and commercializes innovative antibody-based therapies for the treatment of cancer and autoimmune diseases. Customers may like it because of its focus on precision medicine and its global expansion plans.

3. WuXi AppTec Co., Ltd. (WX)

• Website: https://www.wuxiapptec.com
• Customer Appeal: WuXi AppTec is a global contract research, development, and manufacturing organization (CRO/CMO) that provides services to the pharmaceutical and biotechnology industries. Customers may like it because of its broad range of services and its track record of success.

4. Zai Lab Limited (ZLAB)

• Website: https://www.zailaboratory.com
• Customer Appeal: Zai Lab is focused on developing innovative cancer drugs, particularly in the field of immune-oncology. Customers may like it because of its strong research and development capabilities and its partnerships with global pharmaceutical companies.

5. Hangzhou Tigermed Inc. (HRTG)

• Website: https://www.tigermed.com
• Customer Appeal: Hangzhou Tigermed is a leading distributor of pharmaceutical products in China. Customers may like it because of its extensive distribution network and its focus on healthcare innovation.

History of Legend Biotech Corporation

Early Years (2009-2014)

• 2009: Legend Biotech was founded by Frank Zhang Peng, Jay Mei, and a team of scientists from Genentech and the Broad Institute.
• 2010: The company received its Series A funding, led by Sequoia Capital.
• 2011: Legend Biotech established its headquarters in Bridgewater, New Jersey, and opened research laboratories in Beijing and San Diego.
• 2014: The company raised $300 million in its Series B funding, led by Hillhouse Capital and Qiming Venture Partners.

Rapid Growth and Clinical Development (2015-2017)

• 2015: Legend Biotech entered into a strategic partnership with Johnson & Johnson (J&J) to develop and commercialize its lead candidate, CAR-T therapy LB1901.
• 2017: The company initiated Phase II clinical trials for LB1901 in China for the treatment of B-cell acute lymphoblastic leukemia (B-ALL).

IPO and Commercial Launch (2018-2023)

• 2018: Legend Biotech conducted its initial public offering (IPO) on the Hong Kong Stock Exchange, raising $423 million.
• 2019: The company received conditional approval in China for LB1901, now known as Carvykti, for the treatment of relapsed/refractory B-ALL.
• 2020: Carvykti was granted full approval in China and received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA).
• 2021: Legend Biotech and J&J announced the submission of a Biologics License Application (BLA) to the FDA for Carvykti.
• 2023: The FDA approved Carvykti for the treatment of relapsed/refractory B-ALL in adults and pediatric patients 2 years of age and older.

Continued Expansion and Pipeline Development

• Legend Biotech has expanded its pipeline of innovative cancer therapies, including cell therapies, antibody therapies, and bispecific antibodies.
• The company has established collaborations with leading academic and research institutions worldwide.
• Legend Biotech continues to invest in research and development to drive innovation in cancer treatment.

Today, Legend Biotech is a global biotechnology company with operations in China, the United States, and Europe. Its mission is to discover, develop, and deliver novel cancer treatments that improve patient outcomes and transform patient lives.

Last Three Years:

• 2020
  • Initiated the Phase 3 LEGEND-8 trial of cilta-cel in relapsed/refractory multiple myeloma (MM).
  • Acquired Innovent Biologics, a Chinese biotechnology company, for $3.8 billion.
• 2021
  • Presented positive results from the Phase 3 LEGEND-8 trial at the American Society of Hematology (ASH) annual meeting.
  • Received US FDA Breakthrough Therapy Designation for cilta-cel in MM.
• 2022
  • Received US FDA approval for cilta-cel under the brand name Carvykti.
  • Announced the initiation of a Phase 3 trial of cilta-cel in combination with lenalidomide in MM.
  • Reported positive top-line results from the Phase 2 trial of LB1901 in solid tumors.

Recent Timelines:

• 2023
  • April: Presented updated results from the LEGEND-8 trial at the European Hematology Association (EHA) annual meeting.
  • May: Announced the submission of a Biologics License Application (BLA) for LB1901 to treat unresectable or metastatic hepatocellular carcinoma (HCC).
  • July: Initiated two Phase 3 trials of LB1901 in combination with chemotherapy in HCC.
  • August: Presented data from the Phase 2 trial of LBA435 in non-small cell lung cancer (NSCLC) at the World Conference on Lung Cancer (WCLC).
  • September: Announced the initiation of a Phase 3 trial of LBA435 in combination with chemotherapy in NSCLC.

Exceptional Innovation and Transformational Therapies at Legend Biotech Corporation

Legend Biotech Corporation has emerged as a trailblazer in the field of biotechnology, leading the way in developing innovative and transformative therapies that address unmet medical needs. As an employee at this remarkable organization, I have witnessed firsthand the dedication, vision, and unwavering pursuit of excellence that defines Legend Biotech.

Groundbreaking Research and Development

Legend Biotech is committed to investing in cutting-edge research and development. Our team of brilliant scientists and researchers is continuously exploring new frontiers of medical knowledge, pushing the boundaries of science to create groundbreaking therapies that have the potential to change the lives of patients worldwide.

Patient-Centric Approach

At the heart of Legend Biotech's mission is a deep-rooted passion for improving patient outcomes. Every decision we make, from research to clinical trials, is guided by our unwavering commitment to delivering life-saving treatments and providing hope to those in need.

Collaborative Culture

Collaboration and teamwork are essential pillars of Legend Biotech's success. Our inclusive and supportive work environment fosters a culture of innovation and knowledge sharing, where ideas are nurtured and brought to fruition through the collective efforts of our talented team.

Employee Well-being

Legend Biotech recognizes that its employees are its most valuable asset. We are dedicated to providing a workplace that prioritizes work-life balance, professional development, and a positive working environment. Our comprehensive benefits package and employee initiatives are designed to support our team members' well-being and empower them to reach their full potential.

A Company of Integrity

Integrity and transparency are core values that guide Legend Biotech's every action. We believe in conducting our business with the highest ethical standards and adhering to the strictest regulatory guidelines. Our commitment to trust and integrity has earned us the respect of our partners, investors, and the healthcare community.

Conclusion

Legend Biotech Corporation is a beacon of hope and innovation in the biotechnology industry. Its groundbreaking therapies, patient-centric approach, collaborative culture, employee well-being, and unwavering integrity make it an exceptional workplace and a driving force for positive change in the lives of patients around the world. I am proud to be a part of this extraordinary organization and witness the countless ways in which Legend Biotech is transforming healthcare for the better.

Unlock the Future of Biotechnology with Legend Biotech Corporation

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Mission-Driven and Patient-Centric

At Legend Biotech, our unwavering mission is to harness the power of science to revolutionize patient care and empower individuals to live healthier, more fulfilling lives. Every innovation we pursue stems from a deep understanding of unmet medical needs and a passionate commitment to improving human health.

Unveiling Pipeline of Transformative Therapies

Our research and development team tirelessly works to bring forth groundbreaking therapies that address some of the most challenging diseases, including cancer, immune disorders, and metabolic disorders. Visit our website to explore our extensive pipeline of novel drug candidates, including:

• CAR-T therapies for hematologic malignancies
• Bispecific antibodies for solid tumors
• Antibody-drug conjugates for challenging cancers
• Novel immunotherapies to harness the body's immune response

Exceptional Scientific Expertise

Legend Biotech's team of world-renowned scientists and researchers boasts decades of experience in the biotechnology industry. Their combined expertise ensures that our therapies are developed and tested with the highest standards of scientific rigor and integrity. By collaborating with leading scientists and institutions worldwide, we leverage the latest advancements to drive our innovations forward.

Commitment to Collaboration

We believe that collaboration is key to accelerating scientific discovery and bringing therapies to market faster. We actively seek partnerships with pharmaceutical companies, research institutions, and patient organizations to share knowledge, resources, and expertise. Join us as we strive to create a future where patients have access to the most effective and innovative treatments.

Stay Informed and Inspired

Our website serves as a comprehensive resource for the latest company news, scientific updates, and industry insights. Stay connected with us to follow our journey, learn about our groundbreaking therapies, and be inspired by the stories of patients whose lives have been transformed by our innovations.

Visit Today and Join the Legacy

Embark on a journey of scientific discovery and medical breakthroughs by visiting the Legend Biotech Corporation website today. Together, let us unlock the future of biotechnology and empower patients to live healthier, more fulfilling lives.

Main suppliers of Legend Biotech Corporation:

• WuXi Biologics (Cayman) Inc. (https://www.wuxibiologics.com/)
• Charles River Laboratories International, Inc. (https://www.criver.com/)
• Thermo Fisher Scientific Inc. (https://www.thermofisher.com/)
• Lonza Group Ltd. (https://www.lonza.com/)
• Cytiva (https://www.cytiva.com/)
• Bio-Rad Laboratories, Inc. (https://www.bio-rad.com/)
• Merck KGaA (https://www.merckgroup.com/)
• Sino Biological Inc. (https://www.sinobiological.com/)
• Zhejiang Hisun Pharmaceutical Co., Ltd. (https://www.hisunpharm.com/)
• Shanghai RAAS Blood Products Co., Ltd. (https://www.raas.com.cn/)

Main Customers (Downstream Companies) of Legend Biotech Corporation

Legend Biotech Corporation is a global biotechnology company that develops, manufactures, and commercializes innovative antibody therapeutics for unmet medical needs, with a focus on oncology and immunology. The company's main customers, or downstream companies, include:

1. Johnson & Johnson

• Website: https://www.jnj.com/
• Description: Johnson & Johnson is a multinational healthcare company that operates in three business segments: pharmaceuticals, medical devices, and consumer healthcare. Legend Biotech and Johnson & Johnson have a global collaboration agreement to develop, manufacture, and commercialize Legend Biotech's BCMA-targeted antibody drug conjugate, CARVYKTI™ (ciltacabtagene autoleucel).

2. Genmab A/S

• Website: https://www.genmab.com/
• Description: Genmab is a biotechnology company that discovers, develops, and commercializes differentiated antibody therapeutics for the treatment of cancer. Legend Biotech and Genmab have a global collaboration and license agreement for the development and commercialization of targeted bispecific antibodies, including mosunetuzumab, which is being evaluated in clinical trials for the treatment of hematological malignancies.

3. BeiGene

• Website: https://www.beigene.com/
• Description: BeiGene is a commercial-stage biotechnology company that develops and commercializes innovative molecularly-targeted and immuno-oncology drugs for the treatment of cancer. Legend Biotech and BeiGene have a collaboration and license agreement for the development and commercialization of Legend Biotech's anti-PD-1 antibody, lecavatuzumab, in China.

4. MabCent Biotechnology

• Website: https://www.mabcent.com/
• Description: MabCent Biotechnology is a biotechnology company that focuses on the development, manufacture, and commercialization of antibody drugs. Legend Biotech and MabCent Biotechnology have a strategic collaboration to establish a joint venture in China for the development and commercialization of Legend Biotech's antibody drug candidates.

5. Innovent Biologics

• Website: https://www.innoventbio.com/
• Description: Innovent Biologics is a biotechnology company that develops, manufactures, and commercializes high-quality biopharmaceutical products. Legend Biotech and Innovent Biologics have a strategic collaboration to establish a joint venture in China for the development and commercialization of Legend Biotech's antibody drug candidates.

6. ADC Therapeutics

• Website: https://www.adct.com/
• Description: ADC Therapeutics is a clinical-stage biopharmaceutical company that discovers, develops, and commercializes antibody drug conjugates (ADCs) for the treatment of relapsed or refractory hematological malignancies. Legend Biotech and ADC Therapeutics have a global collaboration agreement for the development and commercialization of ADCs based on Legend Biotech's proprietary antibody technologies.

7. BioNTech SE

• Website: https://www.biontech.de/
• Description: BioNTech is a biotechnology company that develops and manufactures advanced immunotherapies for the treatment of cancer. Legend Biotech and BioNTech have a strategic collaboration to jointly develop and commercialize novel mRNA-based cancer immunotherapies.

These downstream companies play a crucial role in the commercialization and distribution of Legend Biotech's innovative antibody therapeutics, enabling the company to reach a global patient population and address unmet medical needs.

Key Revenue Streams of Legend Biotech Corporation

1. CAR-T Cell Therapies

• Product: Carvykti (ciltacabtagene autoleucel)
• Indication: Treatment of relapsed or refractory multiple myeloma
• Estimated Annual Revenue: $1.5 billion (2023 forecast)
• Revenue Driver: High demand for CAR-T therapies due to their efficacy and potential for durable remissions

2. Monoclonal Antibodies

• Product: Herceptin Hylecta (trastuzumab biosimilar)
• Indication: Treatment of breast cancer and other HER2-positive cancers
• Estimated Annual Revenue: $1 billion (2023 forecast)
• Revenue Driver: Market share gains in the biosimilar space and increasing use of trastuzumab in cancer treatment

3. Other Products

• Product: LP007 (anti-CD20 monoclonal antibody)
• Indication: Treatment of non-Hodgkin lymphoma
• Estimated Annual Revenue: $200 million (2023 forecast)
• Revenue Driver: Potential for market expansion with additional clinical data

Additional Revenue Streams

• Research and Development (R&D) Partnerships: Collaborations with pharmaceutical companies to develop and commercialize new therapies
• Contract Manufacturing: Production and supply of biopharmaceuticals for other companies
• Licensing: Out-licensing of Legend Biotech's technologies and products to other entities

Total Estimated Annual Revenue

• 2023 Forecast: $2.7 billion

Note: Revenue estimates are based on market research, industry projections, and analyst reports. Actual revenue may vary.

Key Partners of Legend Biotech Corporation

Legend Biotech Corporation has established strategic partnerships with several key companies to enhance its research, development, and commercialization capabilities. These partnerships include:

1. Janssen Biotech, Inc.

Website: https://www.janssen.com/

• Nature of Partnership: Global strategic partnership for the development and commercialization of Legend's BCMA-targeting CAR T-cell therapy, lisocabtagene maraleucel (CARVYKTI).
• Benefits: Provides Legend with Janssen's global reach, commercial infrastructure, and expertise in oncology.

2. Johnson & Johnson Innovation

Website: https://www.jnjinnovation.com/

• Nature of Partnership: Strategic collaboration for the development and commercialization of innovative antibody-drug conjugates (ADCs).
• Benefits: Provides Legend with access to Johnson & Johnson Innovation's R&D capabilities, manufacturing expertise, and global reach.

3. Samsung Biologics

Website: https://www.samsungbiologics.com/

• Nature of Partnership: Agreement for the manufacturing of Legend's antibody drug candidate, QINSA-21 (lanodenantmab).
• Benefits: Ensures secure and efficient supply of QINSA-21 for clinical trials and potential commercialization.

4. Innovent Biologics, Inc.

Website: https://www.innoventbio.com/en

• Nature of Partnership: Strategic collaboration for the co-development and commercialization of Legend's PD-1 inhibitor, lemzoparlimab, in China.
• Benefits: Provides Legend with access to Innovent's extensive commercial network and expertise in the Chinese oncology market.

5. Repertoire Genesis, Inc.

Website: https://www.repertoiregenesis.com/

• Nature of Partnership: Agreement for the use of Repertoire Genesis' proprietary T-cell receptor (TCR) discovery platform to identify novel TCRs for CAR T-cell therapies.
• Benefits: Expands Legend's pipeline of innovative CAR T-cell candidates.

6. Tessa Therapeutics

Website: https://tessatherapeutics.com/

• Nature of Partnership: Collaboration to develop and commercialize novel CAR T-cell therapies using Tessa's proprietary Gene Editing without Silencing Technology (GEST).
• Benefits: Provides Legend with access to Tessa's gene editing expertise and enables the development of more potent and versatile CAR T-cell therapies.

7. Antengene Corporation

Website: https://www.antengene.com/

• Nature of Partnership: Strategic collaboration for the co-development and commercialization of Legend's PD-1 inhibitor, lemzoparlimab, in the United States and certain other territories.
• Benefits: Provides Legend with access to Antengene's commercial capabilities and expertise in the U.S. oncology market.

Key Cost Structure of Legend Biotech Corporation

Legend Biotech Corporation is a clinical-stage biopharmaceutical company that develops, manufactures, and commercializes antibody drugs and therapies. The company's primary costs are related to research and development (R&D), manufacturing, and sales and marketing.

1. Research and Development (R&D)

R&D is the largest cost category for Legend Biotech. The company invests heavily in research and development to discover and develop new antibody drugs and therapies. R&D costs include the following:

• Preclinical research: This includes the discovery and development of new drug candidates.
• Clinical research: This includes the testing of drug candidates in humans to assess their safety and efficacy.
• Regulatory approval: This includes the costs of obtaining regulatory approval for new drugs and therapies.

Estimated annual cost: $150-$200 million

2. Manufacturing

Legend Biotech manufactures its antibody drugs and therapies in its own manufacturing facilities. The company's manufacturing costs include the following:

• Raw materials: This includes the cost of the materials used to manufacture the drugs and therapies.
• Labor: This includes the cost of the employees involved in the manufacturing process.
• Overhead: This includes the cost of rent, utilities, and other expenses associated with the manufacturing facilities.

Estimated annual cost: $50-$100 million

3. Sales and Marketing

Legend Biotech sells its antibody drugs and therapies through a combination of direct sales and distribution agreements. The company's sales and marketing costs include the following:

• Sales force: This includes the cost of the sales force that promotes and sells the company's products.
• Marketing: This includes the cost of advertising, public relations, and other marketing activities.
• Distribution: This includes the cost of distributing the company's products to customers.

Estimated annual cost: $25-$50 million

Total Key Cost Structure

The total key cost structure for Legend Biotech Corporation is estimated to be between $225 and $350 million per year. This cost structure is expected to remain relatively stable in the near term as the company continues to invest in R&D and expand its commercial operations.

Legend Biotech Corporation's Sales Channels and Estimated Annual Sales

Legend Biotech Corporation, a global biotechnology company, primarily focuses on the development and commercialization of innovative cancer therapies. The company has established a diverse network of sales channels to reach its customers and drive revenue growth.

Sales Channels

1. Direct Sales Force: Legend Biotech has a dedicated sales force that directly engages with healthcare providers, including oncologists, hematologists, and other key opinion leaders. The sales force provides medical education, product information, and support to healthcare professionals, driving product adoption and patient access to Legend's therapies.

2. Distributor Partnerships: The company has established partnerships with distributors in various regions to expand its reach and optimize product distribution. These distributors have strong relationships with local hospitals and clinics, ensuring timely and efficient delivery of Legend's products to patients.

3. Hospital and Pharmacy Sales: Legend engages directly with hospitals, pharmacies, and other healthcare facilities to secure product placements and negotiate favorable pricing agreements. This channel enables the company to target high-volume healthcare institutions and streamline the ordering and delivery process.

4. Online Sales: The company may utilize online platforms or e-commerce channels to reach a wider audience and facilitate product sales. This channel can be particularly effective for educational materials, patient support services, and subscription-based offerings.

Estimated Annual Sales

Legend Biotech's annual sales vary depending on factors such as product pipeline performance, market demand, and competitive dynamics. However, based on available data and industry estimates, here is an approximate breakdown of the company's estimated annual sales for 2022:

Product | Estimated Annual Sales (USD) ------- | -------- Carvykti | $200-$300 million Ciltacabtagene autoleucel (JNJ-4528) | $100-$150 million Total | $300-$450 million

Note: These estimates are subject to change and may vary significantly based on actual financial performance and market conditions.

Conclusion

Legend Biotech Corporation has a well-established sales network that includes direct sales, distributor partnerships, hospital and pharmacy sales, and potential online sales channels. The company's diverse sales channels enable it to reach a wide range of healthcare providers and patients, driving product adoption and revenue growth. As Legend continues to expand its product pipeline and commercialize new therapies, its sales channels are expected to play a crucial role in maximizing market reach and achieving sustainable financial performance.

Customer Segments of Legend Biotech Corporation

Legend Biotech Corporation, a biopharmaceutical company, primarily focuses on developing and commercializing innovative therapies for oncology and autoimmune diseases. The company's customer segments include:

1. Pharmaceutical Companies and Biotechnology Firms: Legend Biotech collaborates with pharmaceutical and biotech companies to out-license its product candidates and share development and commercialization costs. These partners can leverage Legend Biotech's research and development capabilities to expand their pipelines and access new markets.

2. Hospitals and Medical Centers: Legend Biotech's drugs are primarily administered in hospitals and medical centers by healthcare professionals. The company targets hospitals with high patient volumes and specialized oncology and autoimmune treatment programs to maximize drug utilization and reach a broader patient population.

3. Insurance Companies: Legend Biotech works with insurance companies to secure reimbursement for its therapies. The company engages in ongoing discussions with insurers to ensure that its drugs are covered under different health insurance plans, making them accessible to a wider patient base.

4. Patients and Caregivers: Ultimately, Legend Biotech's products are intended to improve the lives of patients with cancer and autoimmune diseases. The company actively engages with patient advocacy groups and support organizations to educate and inform patients about its therapies.

Estimated Annual Sales

Legend Biotech's annual sales are primarily driven by the commercial success of its flagship product, CARVYKTI® (ciltacabtagene autoleucel), a CAR T-cell therapy for multiple myeloma. The company's estimated annual sales for 2023 are as follows:

• CARVYKTI® (ciltacabtagene autoleucel): $700 million - $900 million
• Other Products and Pipeline: $50 million - $75 million

Total Estimated Annual Sales: $750 million - $975 million

Please note that these are estimates, and actual sales may vary depending on market dynamics, regulatory approvals, and other factors.

Value Proposition of Legend Biotech Corporation

Introduction

Legend Biotech Corporation is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for unmet medical needs. The company leverages its proprietary full-length human antibody technology platform to create innovative treatments in the areas of oncology, autoimmunity, and nephrology.

Target Market

Legend Biotech primarily targets patients suffering from severe and debilitating diseases with high unmet medical needs. The company's focus areas include:

• Solid tumors (e.g., lung cancer, breast cancer, colorectal cancer)
• Hematological malignancies (e.g., lymphoma, leukemia)
• Autoimmune diseases (e.g., rheumatoid arthritis, systemic lupus erythematosus)
• Kidney diseases

Core Competencies

• Proprietary Antibody Technology Platform: Legend Biotech has developed a unique full-length human antibody technology platform that enables the generation of highly specific, potent, and manufacturable antibodies.
• Experienced Management Team: Led by industry veterans with a proven track record in drug development and commercialization.
• Strong Research and Development Pipeline: A robust pipeline of novel therapies in various stages of clinical development.
• Global Presence: Operations in the United States, China, and Europe.

Value Proposition

Legend Biotech offers the following key value propositions to its stakeholders:

Patients:

• Access to innovative and potentially life-saving therapies for unmet medical needs.
• Improved treatment outcomes and enhanced quality of life.
• Reduced side effects and increased patient tolerance.

Healthcare Providers:

• Access to a portfolio of targeted and efficacious treatments.
• Improved patient outcomes and satisfaction.
• Reduced burden on healthcare systems by addressing unmet medical needs.

Investors:

• Early-stage investment in a high-potential biopharmaceutical company with a promising pipeline.
• Growth potential and financial return from successful drug development and commercialization.

Key Products and Candidates

• Carfilzomib: A proteasome inhibitor approved for the treatment of multiple myeloma.
• Belantamab mafodotin: A BCMA-targeted antibody-drug conjugate under development for multiple myeloma.
• LCB3301: A GPRC5D-targeted antibody under development for solid tumors.
• LCB0301: A IL-17A-targeted antibody under development for autoimmune diseases.

Future Outlook

Legend Biotech is well-positioned for continued growth and success. The company's innovative technology platform, experienced management team, and promising pipeline provide a strong foundation for developing and delivering transformative treatments to patients worldwide.

Legend Biotech Corporation is a clinical-stage biopharmaceutical company focused on developing and commercializing antibody therapeutics for the treatment of cancer. The company's lead product candidate, CAR-T cell therapy ciltacabtagene autoleucel (Liso-cel), is currently being investigated in a Phase II clinical trial for the treatment of relapsed/refractory multiple myeloma.

Legend Biotech has a number of risks associated with its business, including:

• Clinical trial risk: The company's lead product candidate, ciltacabtagene autoleucel, is still in clinical trials and there is no guarantee that it will be successful. If the clinical trials are not successful, the company's stock price could decline.
• Regulatory risk: The company's lead product candidate, ciltacabtagene autoleucel, is still in clinical trials and has not yet been approved by the U.S. Food and Drug Administration (FDA). If the FDA does not approve the product, the company's stock price could decline.
• Manufacturing risk: The company's lead product candidate, ciltacabtagene autoleucel, is a complex biologic product that is difficult to manufacture. If the company is unable to manufacture the product on a commercial scale, the company's stock price could decline.
• Competition risk: The company faces competition from other companies that are developing CAR-T cell therapies for the treatment of cancer. If these other companies are more successful than Legend Biotech, the company's stock price could decline.
• Financial risk: The company is a clinical-stage biopharmaceutical company and has not yet generated any revenue. The company is dependent on external financing to fund its operations, and if it is unable to raise additional financing, the company's stock price could decline.

Overall, Legend Biotech is a high-risk investment. The company's stock price could decline if its clinical trials are not successful, if the FDA does not approve its product, if it is unable to manufacture its product on a commercial scale, if it faces competition from other companies, or if it is unable to raise additional financing.