When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard. Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences. At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000 ...

Legend Biotech (NASDAQ:LEGN) is one of the 17 biotechnology stocks with more than 50% upside. On January 20, Leonid Timashev of RBC Capital maintained an Outperform rating on Legend Biotech (NASDAQ:LEGN) and set a $66 price target. The analyst shed light on the FDA’s draft guidance that supports the use of Minimal Residual Disease (MRD) negativity and complete response rate to expedite approval endpoints in multiple myeloma. This appears favorable for Legend Biotech (LEGN), as it supports the company’s tr ...

Group 1 - Legend Biotech Corp (NASDAQ:LEGN) is recognized as one of the 13 Best Revenue Growth Stocks to buy currently [1] - The company appointed Robin Meng, chairman and executive director of major shareholder GenScript, as a Class III director, replacing Li Zhu [1] - Directors Li Zhu and Yau Wai Man Philip resigned from the board, with the company stating that these departures were not related to any operational or policy disputes [3] Group 2 - H. C. Wainwright lowered the price target for Legend Biotech's stock from $60 to $50, while TD Cowen downgraded the stock from Buy to Hold with a price target of $21 [3] - Legend Biotech reported preliminary net trade sales of approximately $555 million for its CARVYKTI multiple myeloma cell therapy for the quarter ended December 31, 2025 [3] - The company is engaged in the discovery, development, manufacturing, and commercialization of novel therapies for oncology and other indications [3]

Core Viewpoint - The article discusses the significant progress in China's innovative drug development, highlighting the increase in the number of new drugs approved and the growing competitiveness of Chinese pharmaceutical companies in both domestic and international markets [4][16]. Group 1: Growth of Innovative Drugs - In 2024, the number of domestically developed Class 1 new drugs in China reached 40, a substantial increase from just 9 in 2018 [2][3][4]. - Since the beginning of the 14th Five-Year Plan, 113 innovative drugs have been approved, which is 2.8 times the number approved during the 13th Five-Year Plan [4]. - As of August 2024, there are 910 new drugs available in China, indicating a robust growth in the pharmaceutical market [6]. Group 2: Clinical Trials and Breakthroughs - In a head-to-head clinical trial, the drug Ivoris (依沃西单抗) developed by Kangfang Biopharma outperformed the global best-selling cancer drug, Pembrolizumab (K drug), marking a significant achievement for Chinese innovation [7][9]. - The global sales of Pembrolizumab reached $29.482 billion in 2024, underscoring the competitive landscape [8]. Group 3: Market Dynamics and International Expansion - Chinese innovative drugs are not only performing well domestically but are also gaining traction in international markets, with products like Sidakio (西达基奥仑赛) achieving $1.596 billion in cumulative sales since its launch [12][13]. - The total transaction scale of technology licensing by Chinese pharmaceutical companies exceeded $34 billion in 2024, indicating a shift towards international collaboration [14][15]. Group 4: R&D Landscape and Challenges - As of August 2024, there are 5,380 new drug candidates in development in China, accounting for over one-third of the global pipeline [18]. - The average cost of developing an innovative drug is around $1 billion, with a typical development timeline of 10 years [20][21]. - The efficiency of drug development in China is improving, with preclinical phases taking 12-20 months compared to 24-36 months internationally [23]. Group 5: Policy Support and Ecosystem - The Chinese government has implemented various policies since 2008 to support innovative drug development, including expedited approval processes and financial incentives [28][29]. - The combination of government support, industry collaboration, and technological advancements is creating a conducive environment for innovation in the pharmaceutical sector [41]. Group 6: Future Outlook - The article emphasizes that the development of innovative drugs in China has made significant strides over the past decade, transitioning from imitation to innovation [42]. - The government's continued support for innovative drugs is expected to enhance the industry's growth and provide hope for patients [42].

Company Overview - Legend Biotech Corporation (NASDAQ: LEGN) is a global biotechnology company focused on developing and commercializing advanced cell therapies, particularly CAR-T treatments for cancer, such as CARVYKTI for multiple myeloma [3]. Sales Performance - In Q4, Carvykti sales reached $555 million, which fell short of the consensus estimate of $582 million. This sales miss has been attributed to holiday seasonality and sluggish demand influenced by toxicity concerns and increasing competition [2]. Analyst Ratings and Price Targets - H.C. Wainwright lowered the price target for LEGN from $60 to $50 but maintained a Buy rating, viewing the recent pullback as a buying opportunity due to Carvykti's curative potential [1]. - Conversely, TD Cowen downgraded Legend Biotech from Buy to Hold and reduced the price target from $62 to $21, citing concerns over demand and competition affecting sales [2].

Core Viewpoint - Legend Biotech Corporation (NASDAQ:LEGN) is viewed positively by analysts, with Deutsche Bank and Cantor Fitzgerald both maintaining bullish ratings and setting price targets of $60 and $74 respectively, driven by expectations of strong clinical trial results and significant sales growth in its oncology pipeline [1][4]. Group 1: Analyst Ratings and Price Targets - Deutsche Bank reiterated a Buy rating on Legend Biotech and set a price target of $60, anticipating topline results from its first in-vivo CAR T program by year-end [1]. - Cantor Fitzgerald reaffirmed an Overweight rating with a price target of $74, highlighting the expected 100% year-over-year sales increase of Carvykti to $2 billion [4]. Group 2: Clinical Development and Pipeline - Initial preclinical data indicate robust dose-dependent CAR-T expansion in non-human primates, with sustained peripheral B-cell elimination observed from day 8 to day 36, suggesting in vivo CAR-T cells have properties akin to traditional CAR-T treatments [2]. - Legend Biotech aims to achieve profitability by 2026 while continuing to develop its pipeline, focusing on in vivo and allogeneic CAR-T therapies [3]. Group 3: Company Overview - Legend Biotech is a global clinical-stage biotechnology company dedicated to discovering, developing, and commercializing novel cell therapies, primarily targeting cancer and severe diseases, leveraging technologies like CAR-T cell therapy [5].

Core Insights - Legend Biotech (LEGN) is scheduled to present six new poster analyses on Carvykti at the 2026 Tandem Meetings from February 4th to 7th in Salt Lake [1] Company Focus - The company aims to identify promising biotechnology firms that are innovating through unique mechanisms of action, first-in-class therapies, or platform technologies that could reshape treatment paradigms [1] - The approach emphasizes evaluating the science behind drug candidates, the competitive landscape, clinical trial design, and potential market opportunities while balancing financial fundamentals and valuation [1] Industry Context - The biotech sector is characterized by breakthrough science that can lead to significant returns, but it also requires careful scrutiny due to inherent risks [1]

Core Viewpoint - The sales of CAR-T cell therapy Carvykti (西达基奥仑赛) have significantly increased, but the stock price of Legend Biotech (传奇生物) has declined following the earnings report from Johnson & Johnson (强生) [1] Group 1: Financial Performance - Johnson & Johnson reported a total revenue of $94.193 billion for 2025, a year-on-year increase of 6% [1] - Carvykti generated $1.887 billion in revenue for 2025, representing a 95.95% increase compared to $963 million in 2024 [1] - In Q4 2025, Carvykti's sales reached $555 million, a 65.8% year-on-year increase, but only a 5.9% quarter-on-quarter growth [1] Group 2: Market Position and Product Development - Carvykti is positioned as a one-time therapy for relapsed or refractory multiple myeloma and has been approved in the U.S., EU, and Japan [3] - The product was priced at $465,000 per dose in the U.S., which is approximately three times the price of other domestic CAR-T products [3] - Legend Biotech aims to achieve profitability in 2026 by expanding Carvykti's application globally and increasing its use in community healthcare settings [4] Group 3: Production and Clinical Trials - Legend Biotech has completed the expansion of its production facility in Raritan, which is the largest CAR-T production base in the U.S., capable of supporting the treatment of up to 10,000 patients annually [4] - The company has initiated a Phase 3 clinical trial (CARTITUDE-6) for new indications targeting newly diagnosed multiple myeloma patients [4] Group 4: Market Challenges and Pricing - The commercialization of Carvykti in China lagged behind the U.S. market by two years, with approval granted in August 2024 [7] - The pricing strategy for the Chinese market has not yet been disclosed, and the product has not participated in national health insurance negotiations [7] - The high costs associated with CAR-T therapies pose challenges for accessibility, despite ongoing efforts to explore diverse payment models [8][9]

Group 1 - Top Wall Street analysts have revised their outlook on several key stocks, indicating potential shifts in investment sentiment [1] - The article suggests that investors consider ZTS stock, highlighting the importance of analyst opinions in making investment decisions [1]

Group 1 - The Nasdaq China Golden Dragon Index increased by over 2% [1] - Popular Chinese concept stocks generally rose, with Bilibili up 6.74%, Baidu up 6.59%, and GDS Holdings up 4.98% [1] - Other notable gains include Kingsoft Cloud rising by 4.14% and Miniso increasing by 4.06% [1] Group 2 - Legend Biotech experienced a significant decline, falling by 10.76% [1] - NetEase and Luckin Coffee both dropped nearly 3% [1] - Amer Sports saw a decrease of 1.63% [1]