Legend Biotech taps Novartis veteran Zhang as CEO

Sept. 15 (Reuters) - Legend Biotech LEGN.O on Tuesday appointed longtime Novartis NOVN.S executive Ingrid Zhang as its CEO, effective immediately, banking on an industry veteran to steer its expansion beyond blockbuster cancer therapy Carvykti.

Zhang most recently served as Novartis' international chief commercial officer and previously led the Swiss drugmaker's China business. She has also held leadership roles at AstraZeneca AZN.L and Pfizer PFE.N.

Legend Biotech's shares were up nearly 3% in premarket trading.

"It is a privilege to join Legend Biotech at an important moment in the company's growth," Zhang, who spent 15 years at Novartis, said in a statement.

She succeeds Ying Huang, who resigned in July after seven years at the helm of the cell therapy maker.

Alan Bash, who had been serving as interim CEO, will return to his role as president of the Carvykti business.

Carvykti, Legend's blockbuster cancer therapy for multiple myeloma developed with Johnson & Johnson JNJ.N, generated about $1.9 billion in sales last year and about $1.25 billion in the first half of 2026.

Under a 2017 partnership agreement, Legend and Johnson & Johnson share profits from Carvykti equally outside China, while Legend retains 70% of profits in China.

The company is developing an experimental in-vivo cell therapy for lymphoma that could eliminate the lengthy manufacturing process required for conventional CAR-T treatments.

New Jersey-headquartered Legend Biotech has operations in the U.S., China, Belgium and Ireland.