Pharma BD Deal Intelligence
A $350M upfront bet on a Chinese biotech's CAR-T platform that produced CARVYKTI—now exceeding $1B in annual sales for relapsed multiple myeloma. The 50/50 profit-sharing structure gave J&J a blockbuster franchise at a fraction of typical acquisition costs.
Janssen Biotech, a Johnson & Johnson company, entered a worldwide collaboration and license agreement with Legend Biotech to develop an investigational CAR-T…
Under terms of the agreement, Legend will grant Janssen a worldwide license to jointly develop and commercialize LCAR-B38M in multiple myeloma. The companies…
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Janssen Biotech (J&J) entered a worldwide collaboration with Legend Biotech for the development and commercialization of ciltacabtagene autoleucel (Carvykti), a BCMA-targeting CAR-T cell therapy for multiple myeloma. J&J paid $350M upfront. Carvykti was approved by FDA in February 2022 and is generating >$1B in annual sales by 2024, becoming a key growth driver for J&J's oncology portfolio.
35K US cases/yr · $24.0B Global multiple myeloma therapeutics
Multiple myeloma is a cancer of plasma cells in bone marrow, the second most common hematologic malignancy. Treatment has been transformed by immunomodulators, proteasome inhibitors, anti-CD38 antibodies, bispecifics, and CAR-T therapies.
First-line: lenalidomide + dexamethasone +/- daratumumab or bortezomib. Relapsed: carfilzomib, pomalidomide, CAR-T (ide-cel, cilta-cel), bispecifics (teclistamab). Key players: J&J (Darzalex $10B+, Carvykti), BMS (Revlimid, Abecma), Pfizer (Elrexfio).
J&J paid $350M upfront for worldwide cilta-cel co-development and co-commercialization.
FDA approved Carvykti for r/r multiple myeloma. Later expanded to 2L+ (first BCMA CAR-T in 2L).
Carvykti hit $963M in 2024 sales. 2L approval secured. Manufacturing scaling to 10K doses/yr. Global approvals.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Johnson & Johnson / Legend Biotech Corporation (this deal) | 2017 | $350M | 83 |
| Johnson & Johnson / Legend Biotech Corporation | 2017 | $9.0B | 96 |
| Johnson & Johnson / Centocor Inc. | 1999 | $4.9B | 92 |
| Johnson & Johnson / Cougar Biotechnology, Inc. | 2009 | $970M | 91 |
| Johnson & Johnson / Actelion Ltd | 2017 | $30.0B | 90 |
| Johnson & Johnson / Aragon Pharmaceuticals Inc. | 2013 | $1.0B | 89 |
| Johnson & Johnson / Genmab A/S | 2012 | $3.0B | 77 |
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