$Seattle Genetics(SGEN)$ We think Seattle Genetics' proprietary technology, robust
product pipeline, and near-term revenue potential help its
stand out among its development-stage peers.

Seattle Genetics has received marketing approval for its first
product Adcetris, an anti-CD30, antibody-based therapy.
Mirroring the strategy of mega-blockbuster Rituxan (which
targets CD20), Seattle Genetics plans to target CD30-positive
cancers and will charge a high price tag for Adcetris due to
strong efficacy in these patients. The company maintains
sole rights to Adcetris' sales in North America and has
outlicensed marketing rights abroad to Millennium in
exchange for licensing and milestone payments as well as
double-digit royalties on potential sales. Millennium also
shares in the development costs for the drug, and we think
Seattle Genetics' broad clinical program for the candidate,
including planned trials in earlier lines of therapy and other
CD30-positive malignancies, eventually could bring in more
than $1 billion in annual sales.