In targeting Legend, House select committee on China expands focus
Letter requesting FBI, intel briefings suggests aperture is widening from CROs and security to therapeutic developers and commercial competitiveness
The House Select Committee on the Chinese Communist Party has requested briefings from the Office of the Director of National Intelligence and the FBI about “potential risks to the intellectual property of U.S. firms” and competitive risks to U.S. companies posed by GenScript Biotech and its subsidiaries, including spinout company Legend Biotech.
The letter represents a broadening of the select committee’s focus in two dimensions. Legend Biotech Corp. (NASDAQ:LEGN), which developed CAR T therapy Carvykti ciltacabtagene autoleucel with Johnson & Johnson (NYSE:JNJ), is the first medical product manufacturer to appear publicly on the committee’s radar. And the letter explicitly expands the committee’s concerns from national security issues to commercial competitiveness. ...