Description

Legend Biotech’s Pivotal Transition — CARVYKTI Momentum Meets a New Leadership Era!

Legend Biotech reported second-quarter 2026 results showing continued commercial and clinical growth alongside a leadership transition. Following the former CEO’s departure, Alan Bash was appointed Interim CEO. Management emphasized continuity around maximizing CARVYKTI, advancing the next-generation pipeline, and maintaining operational discipline. CARVYKTI generated approximately $657 million in net trade sales, up 50% year-over-year, supported by earlier-line adoption and geographic expansion. U.S. sales increased 32%, while international sales more than doubled. Treatment centers expanded globally to 348, including greater access through community hospitals. Utilization continued to increase in second- through fourth-line multiple myeloma treatment, while outpatient administration also grew, creating some variability in gross margins. Gross margin on net product sales improved to 58% in Q2 from 41% in Q1, partly reflecting the reversal of one-time manufacturing costs.