The European Commission approved the Seattle Genetics drug, Adcetris, as a treatment to preserve post-transplant remission in high-risk classical Hodgkin lymphoma patients the first week in July. The EC had approved it previously for two other treatments.
This makes Adcetris a treatment option for patients in the 28 European Union countries, as well as, Norway, Liechtenstein and Iceland. The drug is already available in 60 countries as a treatment for relapsed systemic anaplastic large cell lymphoma and relapsed Hodgkin lymphoma through Takeda Pharmaceutical Co., Seattle Genetics’s global distribution partner.
The Food and Drug Administration already approved the drug for all three uses in the United States. According to Seattle Genetics CEO Clay Siegall, the EC action makes Adcetris “the first and only consolidation treatment option available” for post-transplant remission preservation for both U.S. and E.U. high-risk classical Hodgkin lymphoma patients. Seattle Genetics and Takeda have clinical trials underway testing further uses of the drug.
The following week, Credit Suisse Group AG reaffirmed its “buy” rating for Clay Siegall‘s Seattle Genetics’ (NASDAQ:SGEN) stock. Company revenue rose 27 percent from 2014 to 2015, that’s $226.1 million from $178.2 million. Its total 2015 revenue was $336.8 million.
The stock market publication, Trade Calls, called traders “bullish” on the company’s stock. According to the publication, it outperformed the S&P 500 by a 9.38 percent margin in the past 4 weeks. The stock experienced a one year high of $52.33 and a one year low of $26.02. At close on Friday, July 22, the stock stood at $43.99, according to The Engelwood Daily.
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