Clay Siegall, CEO of Seattle Genetics, recently announced his company’s plans to bring on several hundred additional workers this year in an expansionary effort. As one of the Pacific Northwest’s largest biotech firms, the news seems to further cement Seattle Genetics’ position as a leader in the industry. With plans to grow even bigger and expand their control over the market, it would seem that Siegall and his company have been performing above and beyond many analyst’s expectations.
Assuming Seattle Genetics is able to accomplish its lofty goals, that will put Clay Siegall in charge over 1,000 workers across its various departments. In discussing these new plans with investment analysts in Seattle, Siegall was also quick to point out that the expansion will be accompanied by a new push of several drugs onto the market. It’s expected that at least five drugs will be released by Seattle Genetics this year, which provides further context to their need for more workers.
As of right now, Siegall has been leading the company in a number of different trials for its drugs, many of which are geared towards combating a variety of different cancers and lymphomas. Although the company has plans to introduce more workers into its fold, there is still one area in which Siegall and Seattle Genetics have still not tackled: manufacturing.
It would appear that this might change in the future, as Washington has removed some of its previous tax credits for biotech firms. Now, if Seattle Genetics wants to make a bigger push in the market, it will need to rely on its own formidable economic capabilities. In speaking on this point, Siegall point out that although Seattle Genetics is currently based in Seattle, they have no specific ties to a certain location. If an area looks good for manufacturing expansion, then it’s likely that Siegall will push for its pursuit. With that in mind, it’s clear that 2017 is shaping up to be an excellent year for Seattle Genetics, and will likely hold a number of positive surprises for them as their drugs enter the market.