In the global biopharmaceutical industry, drugs with annual revenue exceeding $1 billion are often called "blockbuster" drugs. Following BeiGene 's Zanubrutinib, another domestically produced cancer drug has successfully crossed this sales threshold.
Recently, KingSher Biotech (01548.HK) announced the latest sales of its associate company Legend Biotech's Carvykti (Cedaciolence).
According to statistics, Cedar Rapids' sales in the third quarter were US$524 million. Including the sales of US$369 million in the first quarter and US$439 million in the second quarter, the total sales amount this year has reached US$1.332 billion.
In December 2017, domestic innovative drugsLegend Biotech and multinational pharmaceutical company Johnson & JohnsonThe companies signed an exclusive global license and collaboration agreement to develop and commercialize Cedars-Sinai. Legend Biotech will be responsible for market development and commercialization in Greater China, while Johnson & Johnson will lead the rest of the world. Legend Biotech and Johnson & Johnson will share revenues 7:3 in Greater China and 5:50 in the rest of the world.
Cedars-Sinai is Legend Biotech's first commercialized product. It was first approved for marketing in the United States on February 28, 2022. The drug also became the first Chinese-origin CAR-T cell therapy drug to be marketed overseas.
Afterwards, the drug was approved for marketing in countries and regions such as Japan, the European Union, and China.
In the Chinese market, as of now, there are seven CAR-T cell therapy drugs approved for marketing, including Cidaciolinsel, but the high price limits the accessibility of the products, and most products are still hindered by commercialization.
Although Sidaquiorenza has been approved for the Chinese market, it has not been sold there. In June of this year, an insider told Yicai Global that due to various factors, Legend Biotech's Sidaquiorenza injection has never been sold in China. To date, all sales have come from the US and Europe.
Sales of Cedaciolinsel injection are experiencing steady growth in overseas markets. The price of Cedaciolinsel, approved for marketing in the United States, has increased from an initial $465,000 to $555,300, significantly higher than the millions of yuan typically charged for CAR-T cell therapy in China. This is due to Cedaciolinsel's significant efficacy in multiple myeloma. Currently, Cedaciolinsel's global approved indications are primarily focused on multiple myeloma.
In June of this year, Legend Biotech announced the latest long-term follow-up data of the CARTITUDE-1 study in patients with relapsed or refractory multiple myeloma (RRMM) who had undergone multiple lines of treatment in Somerset, New Jersey, USA. These RRMM patients received only a single infusion of cedaciclib and did not receive maintenance therapy or subsequent myeloma treatment. It is worth noting that 33% of these patients did not experience disease progression for five years or more, which is unprecedented. This therapy is the first and currently the only CAR-T cell therapy that has shown an overall survival benefit compared to standard therapy in the treatment of multiple myeloma.。
With the continued growth in sales of Cedar Rapids, Legend Biotech's turnaround has long been on the agenda.
In the first quarter of 2025, Legend Biotech suffered a net loss of approximately US$101 million.
According to Legend Biotech's previous plan, the company is expected to achieve profitability in 2026.

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