Genscript Biotech (HK:1548) has released an update.
Genscript Biotech has announced the deconsolidation of its subsidiary, Legend Biotech, following changes to their deposit agreement. This strategic shift means Legend Biotech will now be classified as an associate, with Genscript recognizing its investment using the equity method. The move is expected to result in a one-time tax-free gain for Genscript, reflecting the fair market value of its share in Legend Biotech.
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