China's Genscript hits 3-year low after unit's downbeat Q1 sales for blood cancer therapy

Genscript Biotech

17/04/2024 05:10

** Shares of Genscript Biotech Corporation  1548.HK  slip
2.7% to HK$11.32, their lowest since February 2021 
    ** Stock on course for a third straight session of declines
    ** Genscript Biotech says unit Legend Biotech  LEGN.O 
announced that cancer cell therapy Carvykti generated $157 mln
in net trade sales during the quarter ended March 2024 
    ** Johnson & Johnson  JNJ.N  reports Q1 sales of
Legend-partnered Carvykti of $157 mln, below an estimated
$200.50 mln sales by at least two analysts  
    ** Carvykti has recently received approval for use in
less-severely affected patients with a type of blood cancer
    ** U.S.-listed shares of Legend Biotech fell 3.1% on Tuesday
    ** Hong Kong's healthcare index  .HSCIH  slips 0.5%, Hang
Seng Composite Index  .HSCI  eases 0.1% and Hang Seng Index
 .HSI  down 0.2%
    ** Genscript Biotech stock down 42.3% YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))