When battling cancer, one should be able to focus on their physical and mental health without worrying about the cost to their finances. While the rising cost of healthcare has been a concern for years in the United States, researchers at Oncotarget have shown that this is especially troubling for cancer patients. While the correlation between affordable medication prices and a country’s wealth appear to be directly correlated, there is one country that remains an outlier: the United States. Oncotarget researchers have shown that the US actually has the highest average patented drug prices in the entire world. Some patients are finding themselves taking drastic measures such as going on “medical vacations” to destinations such as India where the treatments for cancer and other diseases are usually a fraction of the cost they are in the US. Learn more about Oncotarget at Eurekalert.org.
In an economy where companies like Oncotarget are engaging international markets in hopes for cures, who determines the prices and how they should be set? Should the countries with the best infrastructure shoulder the costs to allow access in countries with less opportunities or should the prices remain consistent across the board especially if the research made took place internationally?
At 2017’s Frontiers in Cancer Science, Oncotarget awarded four grants to international researchers to sponsor them in their travels. Hosted by 7 different research institutions, Frontiers in Cancer Research took place in Singapore on November 6-8th. This event brings some of the tops researchers and experts in the field of cancer science together to exchange ideas and information freely without the burden of distance. Follow Oncotarget on Linkedin.
Oncotarget’s grants were awarded to researchers presenting on a range of topics such as the impact of renal cancer medications to mesothelioma’s resistance to chemotherapy and the effects of asbestos in this process. With the aid of Oncotarget’s travel grants, these researchers may be able to find treatments affordable to all… without a “medical vacation”.
Clay Siegall received his doctorate in Genetics from George Washington University and a Bachelor of Science degree in Zoology from the University of Maryland. Clay Siegall co-founded Seattle Genetics in 1998 and currently serves as the company’s President, Chief Executive Officer, and Chairman of the Board of Directors. During the company’s establishment, cancer treatments were controlled by chemotherapy that could barely distinguish between killing cancer cells and normal cells. Clay wanted to improve the lives of people living with cancer through the development of targeted therapies to cater for unmet needs.
Clay Sieagall established Seattle Genetics on a scientific innovation basis along with meticulous research, drug development practice, and his zeal to assist others. Under his leadership, the company, Seattle Genetics, was able to build a diverse pipeline of antibody cancer therapies which include ADCETRIS (brentuximab vedotin) for cancer treatment. ADCETRIS is currently an international brand approved in over 65 nations.
Clay Siegall is also in charge of the Seattle Genetics capital-raising activities having secured over $675 million through private and public funding, in addition to the company’s first public offering in 2001. Clay Siegall previously served at the Bristol-Myers Squibb Pharmaceutical Research Institute for a six year period and prior to that, he worked with the National Cancer Institute, National Institutes of Health from 1988 to 1991. Clay is also a member of the Board of Directors of a private biotechnology firm-Alder Biopharmaceuticals. Clay Siegall is an author and has published over 70 books and also holds 15 patents.
Clay Siegall has led Seattle Genetics into multiple strategic licenses for the company’s ADC technology which include AbbVie, Genentech (Roche), Astellas, Pfizer, and GlaxoSmithKline which have collectively generated more than $350 million to this day. There are more than 20 ADCs in the clinical development that utilize the company’s technology across internal and partner programs. Clay says that an important component their business plan involves partnering with other industry leaders and innovators in oncology drug development. He adds that the company’s ADC collaborations have helped market their technology, allowing the company to place resources into new ideas and new approaches to help patients.