Clay Siegall: In Pursuit of Greatness
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.