Item 1.01. Entry into a Material Definitive Agreement.
On July 11, 2021, Seagen Inc. (the "Company") entered into a commercial supply
agreement dated as of July 1, 2021 (the "Agreement") with Hovione FarmaCiencia
SA ("Hovione") to manufacture tucatinib spray-dried dispersion or drug product
intermediate ("Product") for TUKYSA®. The Agreement provides that the Company
will purchase Product pursuant to rolling forecasts and will purchase a minimum
percentage of its requirements for Product from Hovione. The Agreement will
remain in effect for an initial five-year term, followed by successive automatic
two-year renewals. Either party may terminate the Agreement by written notice
prior to commencement of the applicable renewal term. In addition, either party
has the right to terminate the Agreement if the other party breaches the
Agreement and does not remedy the breach after written notice or if the
occurrence of a force majeure event prevents the other party from performing its
obligations under the Agreement. The foregoing description of the Agreement does
not purport to be complete and is qualified in its entirety by the terms and
conditions of the Agreement, which will be filed as an exhibit to the Company's
quarterly report on Form 10-Q for the quarter ending September 30, 2021.
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