Aggregated News
In the wake of a case that went all the way to the U.S. Supreme Court, Salt Lake City-based Myriad Genetics is now enveloped in a new spate of lawsuits over its gene patents, this time sparring with companies that want to erode its dominant position in testing of genes related to breast and ovarian cancer.
At stake for Myriad is whether the company can maintain the parts of its patents that the Supreme Court and a lower appeals court did not invalidate.
Myriad uses the patents for tests it now sells exclusively. The sale of those tests accounted for 75 percent of Myriad’s $613 million in revenue in the fiscal year that ended June 30.
The risks for the company are underscored by its shares, which have generally declined in price since Dec. 2 when one of its potential competitors sued and reports surfaced that the Centers for Medicare & Medicaid Services would cut what the government pays Myriad for tests related to the genes labeled BRCA1 and BRCA2.
The company’s shares finished Nov. 29 at $29.75, then...
At stake for Myriad is whether the company can maintain the parts of its patents that the Supreme Court and a lower appeals court did not invalidate.
Myriad uses the patents for tests it now sells exclusively. The sale of those tests accounted for 75 percent of Myriad’s $613 million in revenue in the fiscal year that ended June 30.
The risks for the company are underscored by its shares, which have generally declined in price since Dec. 2 when one of its potential competitors sued and reports surfaced that the Centers for Medicare & Medicaid Services would cut what the government pays Myriad for tests related to the genes labeled BRCA1 and BRCA2.
The company’s shares finished Nov. 29 at $29.75, then...
