Key Takeaways:
Strong commercial uptake for the CAR-T therapy CARVYKTI is accelerating, with first-quarter sales of $597 million signaling a significant challenge to established treatments for multiple myeloma and positioning the drug as a key revenue driver for Genscript Biotech.
"The growth was recorded pursuant to the collaboration and license agreement with Janssen Biotech," Genscript Biotech announced in a financial release, confirming the net trade sales for its subsidiary Legend Biotech.
The nearly $600 million in sales for the first quarter of 2026 represents a 61.8% increase from the same period in the prior year. The therapy, co-developed by Legend Biotech and Janssen, continues to gain traction in a competitive market.
The sales acceleration is a critical validation of CARVYKTI's commercial potential, likely to boost investor confidence in parent company Genscript Biotech (01548.HK) and intensify its competition with Bristol Myers Squibb's rival CAR-T therapy, Abecma.
CARVYKTI (ciltacabtagene autoleucel) is a B-cell maturation antigen (BCMA)-directed chimeric antigen receptor T-cell (CAR-T) therapy. This type of personalized medicine involves reprogramming a patient's own T-cells to identify and destroy cancerous myeloma cells. It is approved for patients with relapsed or refractory multiple myeloma after other lines of treatment have failed.
The robust sales growth places CARVYKTI in a direct and intensifying rivalry with Abecma, another BCMA-targeted CAR-T therapy from Bristol Myers Squibb and 2seventy bio. As both therapies expand into earlier lines of treatment, their commercial performance is being closely watched by analysts to determine the long-term market leader in this high-value oncology space.
For Genscript Biotech, the performance of CARVYKTI is a pivotal component of its equity story. The substantial year-over-year revenue growth demonstrates a successful transition from clinical development to commercial execution. This strong showing could prompt analysts to revise revenue forecasts and price targets for Genscript's Hong Kong-listed shares, which have been closely tied to CARVYKTI's success.
This article is for informational purposes only and does not constitute investment advice.
