Seattle Genetics Submits Enfortumab Vedotin for FDA Approval; Solid Adcetris Sales in 2Q
Seattle Genetics reported revenue of $218 million, up 28% from last year. Adcetris sales of $159 million in the U.S. and Canada were up 30% from last year and 17% sequentially, which represents solid growth that helps offset the company's weaker first quarter. Adcetris, which is used to treat classical Hodgkin's lymphoma and anaplastic large cell lymphoma, remains the company's key driver, and we anticipate steady double-digit growth for the next several years due to Adcetris' solid efficacy and...Seattle Genetics is a biotechnology company that develops and commercializes therapies targeting cancer. The company is commercializing ADCETRIS?, or brentuximab vedotin, for the treatment of several types of lymphoma. The company is also developing a pipeline of therapies for solid tumors and blood-related cancers designed to address unmet medical needs and improve treatment outcomes for patients. Many of the company's programs, including ADCETRIS, are based on its antibody-drug conjugate (ADC), technology. The company's late-stage pipeline includes two ADCs and an oral tyrosine kinase inhibitor, for solid tumors that are in clinical trials designed to support applications for potential regulatory approvals.
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