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

Reuters04-17

** Shares of Genscript Biotech Corporation 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 announced that cancer cell therapy Carvykti generated $157 mln in net trade sales during the quarter ended March 2024

** Johnson & Johnson 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 slips 0.5%, Hang Seng Composite Index eases 0.1% and Hang Seng Index

down 0.2%

** Genscript Biotech stock down 42.3% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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