Seattle Genetics plans manufacturing expansion with cash from Merck deal

Following a blockbuster deal with pharmaceutical company Merck, Seattle Genetics released plans to build a $300 million manufacturing facility, two to three times the size of its current manufacturing center. “With the money from our deal with Merck and with our money we’ll have over $2.5 billion in capital that we could put to work,” said CEO and president Clay Siegall. “We don’t want to spend it all in a day, but we want to utilize the capital to build a bigger company.”

READ THE STORY at Puget Sound Business Journal »