Legend Biotech’s man in charge will be working from home for the time being.
The Chinese company announced Monday that its CEO and chairman, Frank Zhang, has been detained by Chinese customs as part of an investigation involving Genscript Biotech, Legend’s majority shareholder and former parent company. Current CFO Ying Huang has been named interim CEO, effective immediately.
The surprising announcement explains why shares of the Hong Kong-listed Genscript were unexpectedly suspended on Friday.
