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Padcev Sales Exceed Expectations As Seattle Genetics Pursues Earlier Indications

 
• By Mandy Jackson

The bladder cancer drug delivered $34.5m in its first full quarter of sales – four times analyst consensus for Q1 – and Padcev’s market may grow rapidly based on results from ongoing studies.

Hitting bigger business target
Analysts raised their Padcev forecasts based on Q1 sales

Sales of Seattle Genetics Inc.’s new bladder cancer drug Padcev (enfortumab vedotin), developed in partnership with Astellas Pharma Inc., brought in an impressive $34.5m in sales during its first full quarter on the market in the US, far exceeding analyst consensus of $7.8m for Q1. As Seattle Genetics reported its first quarter earnings on 30 April, the company outlined the path for expanding the indications for the antibody-drug conjugate (ADC) targeting Nectin-4. 

The US Food and Drug Administration approved Padcev in December to treat locally advanced or metastatic urothelial cancer patients who...

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