PharmaVitae explores Seattle Genetics’ prescription pharmaceutical performance and outlook over 2019–29. PharmaVitae analyses include quarterly earnings coverage and provide timely updates to company product forecasts.
Publisher: Datamonitor Healthcare
Published: 25 January 2021
Number of pages:48
Seagen is a biotechnology company in the oncology market, with more than $900 million in revenue in 2019.
Seagen’s total revenue increased 40% in 2019, driven primarily by 32% higher Adcetris net product sales.
Seagen compares favorably to all peers over near-term (2019–24) and slightly favourably to most peers over longterm (2024–29) revenue growth rates; the company also is expected to generate more than 70% of revenue from launch products in 2025, which again is higher than peer average.
Launch of Padcev and Tukysa will drive growth in 2020 and beyond.
Padcev is considered to have mega-blockbuster potential, given its vast improvement and differentiation relative to standard of care.
Seagen specializes in therapies targeting cancer and is expected to generate all its sales from the oncology therapy area in the forecast period.
Seagen is expected to generate majority of its sales in the US.
Label expansion of Adcetris in the US is expected to increase sales of the drug. Data for Adcetris in Stage 3 and 4 Hodgkin lymphoma and peripheral T-cell lymphoma expected in the later half of 2020 could boost uptake in the first-line setting versus more established regimens.
Seagen expects increasing revenue growth for Padcev in the US, not only in the currently approved relapsed setting, but also in first-line and other settings that it is pursuing.
Internationally, Seagen expects favorable revenue performance of Adcetris as it continues to support Takeda’s efforts to obtain regulatory approvals and conduct commercial launches in additional countries worldwide.
The only high-impact upcoming event is an estimated supplemental CHMP opinion for Adcetris.
PharmaVitae explores Seagen’s prescription pharmaceutical performance and outlook over 2019–29.
Overview – Seagen is poised for continued growth.
Key themes –  Adcetris growth is slowing due to increasing market penetration and inroads from competing products like Keytruda  Launch of Padcev and Tukysa will drive further growth in 2020 and beyond  Collaborative licensing agreements with large pharmaceutical companies provide diversified sources of revenue.
Model updates (4 November 2020)
Adcetris forecast adjusted lower due to sales trends
Padcev forecast adjusted higher due to recent data in MIBC and long-term guidance given by Astellas
Tukysa forecast adjusted higher due to launch trends.
Model updates (31 July 2020)
Padcev forecast adjusted higher due to continued strong launch trends
Tukysa forecast adjusted higher due to strong initial launch
Tisotumab vedotin forecast added after results of innovaTV 204 trial.
Model updates (30 April 2020)
Padcev forecast adjusted higher due to strong initial launch
Tucatinib name changed to Tukysa; forecast adjusted higher due to earlier-than-expected approval.
Model updates (6 February 2020)
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