Cell Therapy Maker Legend Biotech Is An 'Attractive Opportunity' Due To No Material Tariff Exposure: Analyst

Core Viewpoint - Investors are seeking companies with macroeconomic moats to protect against tariff exposure and regulatory uncertainty, with Legend Biotech Corporation being highlighted as having no material exposure to tariffs [1][3]. Company Overview - Legend Biotech's lead product, Carvykti, is a one-time treatment for relapsed or refractory multiple myeloma, developed in collaboration with Johnson & Johnson [1]. - The company manufactures 100% of the commercial Carvykti patients in the U.S. and Europe, having initiated commercial production at a Novartis facility in Q1 2025 [2]. Tariff and Regulatory Exposure - Legend Biotech does not import materials for CAR-T manufacturing, resulting in no material exposure to tariffs or transfer pricing [3]. - The absence of tariff exposure positions Legend as an attractive investment opportunity during unpredictable macroeconomic times [3]. Product Performance and Market Position - The performance of Carvykti as an earlier treatment for multiple myeloma is a significant factor driving Legend's stock [4]. - Analyst confidence in Carvykti's widespread adoption is based on its robust efficacy data, positioning it favorably compared to competitors [5][6]. - Carvykti is already approved for second-line treatment of relapsed/refractory multiple myeloma, which is advantageous for its market positioning [7]. Stock Performance - As of the last check, Legend Biotech's stock (LEGN) is up 1.86% at $30.81 [7].