When it comes to doing great things for mankind, the list of individuals is mighty short. Unfortunately, this is how people tend to operate and this is how life truly is. Some of the biggest philanthropists in the world never receive the credit that’s due, but this article is about a true American icon. Dr. Clay Siegall, CEO and founder of Seattle Genetics, is back in the news. Siegall is looking to expand his business by controlling the business’ rights. This comes in the form of international marketing, which can be a tricky subject. Instead of just focusing on the development of antibody-based therapies, Siegall wants to market the company’s up and coming medications on an international level. There is no more selling-out to larger companies in which he has done in the past. As of today, Siegall is playing for keeps. He has thoroughly studied international marketing, and he has opened an office in the country of Switzerland to do so.
This new business move can help Seattle Genetics grow much more dramatically. By owning the rights of the drugs and by being able to put them on the global market, Seattle Genetics could retain most of its own generated revenue. Earlier this year, Siegall withdrew his offer of $2 billion to commercialize a new cancer fighting drug by New Jersey-Based Immunomedics. The company board was struggling over control and this is another reason to why Siegall is looking to expand his company’s self-interests.
Even if Seattle Genetics doesn’t take its show internationally, it will remain a huge success. For 2016, the company had an estimated $418 million in sales, which resulted in the company’s stock tripling over a five-year span. The numbers are simply astounding when you look at them on paper. Seattle Genetics has many more advanced drugs in its pipeline and by controlling its very own international marketing, it would grow even more dramatically while distributing the newer drugs to untapped markets. If anyone can get the job done, it would surely be Clay Siegall. He has been in cancer research for two decades, and he has worked with many prominent names like Bristol Myers Squibb and the National Institute of Health.
Dr. Clay Siegall has become a known figure in cancer treatment since founding his biotech firm Seattle Genetics, working with top researchers that develop targeted drug and therapy courses in an effort to improve these fields of research. Seattle Genetics started small but soon became an influential player in cancer research, and Dr. Clay Siegall intends for his firm to increase its standing as an authority in this field by better understanding how to tailor treatment for individual patients.
Dr. Siegall’s interest in medicine and technology guided his studies at the University of Maryland, and when a family member became ill he noted the changes in their health attributed to chemotherapy. This led him to consider alternatives to treatment.
Seattle Genetics is funded primary through sales of medication, and their currently awaiting FDA approval to put more into the market. Partnerships and licensing also helps by continuing to promote the Seattle Genetics brand while bringing in the funding necessary to deal with the expensive process of getting drugs approved by the FDA. But in the early days, Dr. Siegall relied on negotiating with and attracting investors. It was instrumental in getting the firm off the ground.
Moving forward, Dr. Siegall sees a bright future for Seattle Genetics. The hard work that has made his firm come this far, Dr. Siegall sees as an integral character trait of everyone working in this field.
About Dr. Clay Siegall:
Dr. Clay Siegall is an American geneticist and founder and CEO of Seattle Genetics. After receiving his Ph.D. in Genetics from George Washington University. Dr. Siegall served as a member of the National Cancer Institute and the National Institutes of Health between 1988 and 1991 before going on to join Bristol-Myers Squibb Pharmaceutical Research Institute until 1997.
In 1998, Dr. Siegall co-founded Seattle Genetics, a biomedical firm that focuses on researching and developing cancer treatment alternatives to chemotherapy where he serves as President, Chief Executive Officer, and Chairman of the Board of Directors. As an authority in the field, Dr. Siegall has been instrumental in raising investment in the company and has secured more than $675 million in public and private funds. In 2011 their antibody medication ADCETRIS was granted accelerated approval by the FDA.