Seattle Genetics is a globally recognized biotechnology research firm that has focused on developing targeted cancer cures. It was created in 1998, and its headquarters are located in Washington. The company has more than 900 employees who have been working to ensure its growth in the international markets. Seattle Genetics has developed several drugs that have had a positive impact on the pharmaceuticals sector. The firm is currently focused on conducting both research and marketing of its products. To achieve this, it has invested a lot of resources, and it plans to employ about 200 more individuals in 2017. The primary drug that Seattle Genetics sells is known as Adcetris. It is a cure for Hodgkin lymphoma, which is a life threating cancer that starts by infecting the lymph and spreads to other parts of the body. The drug is now in its last stage of development and testing.
The research firm’s CEO and chairman is Dr. Clay Siegall. He is a renowned expert in biotechnology and genetics and has a three decade’s experience in both fields. Siegall is striving to ensure that Seattle Genetics grows into one of the pharmaceuticals industry’s most significant companies. He is determined to build it into a global drug manufacturer that markets its products. A few years ago, the enterprise had sold its trading rights to a global company that is known as Takeda Oncology. The firm currently understands the international pharmaceuticals market, and it has established offices in Switzerland to run its global businesses.
Siegall’s outstanding business management expertise has enabled the firm to grow at a rapid rate. The company has been making profits from selling its drugs and generated $418 million in 2016. This amount was 46 percent higher than what it made in 2014. The value of the company’s stocks has tripled in the past three years from $20 to $66 per share. Seattle Genetics is currently focused on developing antibody-drug conjugates (ADC) and has dedicated over $376 million to the project. Many physicians recommend the use of ADCs since they do not damage the healthy body cells.
Seattle Genetics has secured an FDA license for the manufacture and commercialization of Adcetris. According to Siegall, the company will raise over $1 billion from selling the drug. Patients who used the drug can spend from $230,000 to $330,000 per annum. Clay Siegall has developed several new cancer cures, and he has 15 patents.