How Dr. Clay Siegall Has Succeed In Business
Dr. Clay Seigall founded Seattle Genetics, Inc. with the goal of curing cancer through targeted drug therapies. When he founded the company in 1998 he came from a career as a researcher in the pharmaceutical industry. He focused in on targeted therapies because they are safer than conventional cancer treatments and also far more effective. His company now has over 20 drugs in the pipeline and one, Adcetris, that received FDA approval and is now available for cancer patients in over 65 countries.
When talking about targeted drug therapies versus conventional ways of treating cancer, Dr. Clay Seigall has said that he firmly believes that the older systemic chemotherapies will eventually no longer be used. The new targeted therapies like Seattle Genetics creates offer much better value and much better patient outcomes in regards to their cancer survival rates.
While he was working for other companies as a researcher, Dr. Siegall has said that he felt very constrained in what he could do. He wasn’t given near enough autonomy in the research he could carry out. His other big issue was patents. When he came up with great ideas it ended up being the executives at the company he was working for that would greatly profit from him and he received essentially nothing for it. This was especially galling when one of his patents was making $80 million a year and his paycheck didn’t go up at all.
As President and CEO of Seattle Genetics, Dr. Seigall brought in a strong staff of salespeople early. He said they helped close a number of deals which kept his company going through the early years before his company was profitable. It takes years to develop a drug and a lot of money. By hiring this staff he gave his company the time to get their first products on the market and start bringing in substantial amounts of money.
Dr. Clay Seigall credits working hard with what he has achieved in his career. He says to do well you need to be passionate in what you do so that you’ll want to put in the time of working intently and being focused on what you’re trying to achieve.