Legend Biotech taps Novartis veteran Zhang as CEO

Legend was among GenScript Biotech 1548.HK affiliates named in a letter by U.S. lawmakers last year as they renewed concerns about the Chinese biotech company's role in advancing Beijing's biotech capabilities.

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

Novartis has come under pressure from a major shareholder to shake up its board following back-to-back clinical trial setbacks.

Legend Biotech shares closed down 4.6% on Tuesday.

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.

"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.

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

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.

RBC Capital Markets analyst Leonid Timashev said hiring a commercial expert made sense given the need to sustain Carvykti's growth. He also noted the appointment may dilute the company's recent efforts to distance itself from China.