diff --git a/mingw-w64-python-setuptools/0004-dont-execute-msvc.patch b/mingw-w64-python-setuptools/0004-dont-execute-msvc.patch
index d45747d3a2..7ad06828c1 100644
--- a/mingw-w64-python-setuptools/0004-dont-execute-msvc.patch
+++ b/mingw-w64-python-setuptools/0004-dont-execute-msvc.patch
@@ -1,15 +1,12 @@
---- setuptools-7.0/setuptools/extension.py.orig	2014-10-20 00:40:16.151400000 +0400
-+++ setuptools-7.0/setuptools/extension.py	2014-10-20 00:40:45.978600000 +0400
-@@ -6,12 +6,9 @@
- import distutils.extension
+--- setuptools-27.3.0/setuptools/monkey.py.orig	2016-09-23 11:38:23.517707200 +0300
++++ setuptools-27.3.0/setuptools/monkey.py	2016-09-23 11:39:40.362333800 +0300
+@@ -90,7 +90,8 @@
+             setuptools.extension.Extension
+         )
  
- from .dist import _get_unpatched
--from . import msvc9_support
+-    patch_for_msvc_specialized_compiler()
++    if not 'GCC' in sys.version:
++        patch_for_msvc_specialized_compiler()
  
- _Extension = _get_unpatched(distutils.core.Extension)
  
--msvc9_support.patch_for_specialized_compiler()
--
- def _have_cython():
-     """
-     Return True if Cython can be imported.
+ def _patch_distribution_metadata_write_pkg_file():
diff --git a/mingw-w64-python-setuptools/PKGBUILD b/mingw-w64-python-setuptools/PKGBUILD
index 01ebcb3af4..198f40e86c 100644
--- a/mingw-w64-python-setuptools/PKGBUILD
+++ b/mingw-w64-python-setuptools/PKGBUILD
@@ -7,23 +7,23 @@ pkgname="${MINGW_PACKAGE_PREFIX}-${_realname}"
 pkgname=("${MINGW_PACKAGE_PREFIX}-python2-setuptools" "${MINGW_PACKAGE_PREFIX}-python3-setuptools")
 _py3_base=3.5
 _py2_base=2.7
-pkgver=20.3.1
+pkgver=27.3.0
 pkgrel=1
 pkgdesc="Easily download, build, install, upgrade, and uninstall Python packages (mingw-w64)"
 arch=('any')
 license=('PSF')
 url="https://pypi.python.org/pypi/setuptools"
 depends=("${MINGW_PACKAGE_PREFIX}-python2" "${MINGW_PACKAGE_PREFIX}-python3")
-source=(https://pypi.python.org/packages/source/s/setuptools/${_realname}-${pkgver}.tar.gz
+source=(${_realname}-${pkgver}.tar.gz::https://github.com/pypa/setuptools/archive/v${pkgver}.tar.gz
         '0001-mingw-python-fix.patch'
         '0002-Allow-usr-bin-env-in-script.patch'
         '0003-MinGW-w64-Look-in-same-dir-as-script-for-exe.patch'
         '0004-dont-execute-msvc.patch')
-sha256sums=('a1b3f74a1dc7c81368f2bc28a34366cfa6ffe80cdee1451261aabfba1ae1f4a8'
+sha256sums=('c661d4061e2a6f71519237ba423ed461d210b8ca541e1bdd83048d38f97e5641'
             'd3bc778723e63bbd6e43ab3536a015c547c8c20a95c6679a952284a7a4822996'
             '7bb5617c69566f5fbf1a3ee29a08179e1b41bdeabbc2998bf67615e9aa000424'
             '0e556505cb70ff3a5df856e352d5e2b3cf1582c25d02fc00a2d935a28576b28c'
-            '40ebd4b444f14f7abea4ce62e9743dc57f430ccf0f9f837496adb37a0f6b162e')
+            '2a854e21e99d6724999e2abeff08451923e9940b4092eb2b638702da17abdb73')
 
 prepare() {
   cd "${srcdir}/setuptools-${pkgver}"
@@ -58,10 +58,12 @@ prepare() {
 build() {
   # Build python 2 module
   cd "${srcdir}"/setuptools-python2
+  ${MINGW_PREFIX}/bin/python2 bootstrap.py
   ${MINGW_PREFIX}/bin/python2 setup.py build
 
   # Build python 3 module
   cd "${srcdir}"/setuptools-python3
+  ${MINGW_PREFIX}/bin/python3 bootstrap.py
   ${MINGW_PREFIX}/bin/python3 setup.py build
 }