Clay Siegall: Seattles Pharmaceutical Tycoon

Seattle Genetics is a pharmaceutical company based in Seattle Washington. Its founder and chief executive officer, Clay Siegall, is known to be one of the few pharmaceutical magnates in the country, and he is working hard in order to transform his business into one of the largest pharmaceutical companies in America. Seattle Genetics was founded in 1988, and at the time of their foundation, Clay Siegall stated that the company he built would focus on eradicating a number of diseases, with cancer in their top priority list. The company hired scientists in order to do researches about cancer, and they also hired the best chemists and pharmacists to create a drug that would combat the disease.

Through the years of research and study, Seattle Genetics managed to formulate a drug known as Adcetris. This drug has been approved by the Food and Drug Administration, and the drug can be used to cure Hodgkin lymphoma. Hodgkin lymphoma is a type of lymphatic system cancer that is fatal if untreated. It can spread to other body systems, rendering the body incapable of doing basic tasks, and slowly destroying the immune system. Aside from Adcetris, Clay Siegall stated that Seattle Genetics is manufacturing three other medicines that would cure different types of cancer. These medicines already have their prototypes which are being tested inside the laboratory. The three remaining medicines that are yet to be introduced are medicine number 33A, which is being tested to cure myeloid leukemia; next is medicine number 22ME, reported to cure bladder cancer; and the last is medicine number LIV1, which is expected to cure breast cancer.

Because of the contributions that Seattle Genetics is providing to the field of medicine, the business became well known and investments are pouring in. The company is now valued at more than $10 billion, and their stock prices have soared from $20 per share to more than $66 per share. Clay Siegall is also vital to the steady growth of the company. The number of employees working for Seattle Genetics has grown to 900, and they are planning to hire an additional 200 people. Clay Siegall has also opened an overseas satellite office in Switzerland, in preparation for his international venture. Seattle Genetics has been recognized recently as the largest biotech company in the north-western region, but Clay Siegall is positive that once their products have been released, the transformation of the company into one of the most competitive pharmaceutical corporation in the United States is not that hard to imagine.