Myriad Genetics and Tufts Health Plan Sign Agreement to Cover Prolaris(R) for Members With Localized Prostate Cancer
October 07 2015 - 7:05AM
Myriad Genetics, Inc. (NASDAQ:MYGN) today announced that it has
signed a three-year contract with Tufts Health Plan through which
the plan will provide coverage of Prolaris® for members diagnosed
with localized prostate cancer. Prolaris is the first and only
biopsy test validated against prostate cancer specific mortality.
Tufts Health Plan is a leading health plan in the Northeast with
more than one million members. Tufts Health Plan's members will
benefit from this agreement, which is designed to drive optimal
treatment because men can confidently pursue active surveillance
for tumors identified as being less aggressive with Myriad's
extensively validated Prolaris combined score. Recent data show
that many men realize no benefit from interventional treatment, and
many suffer needlessly from the side effects associated with
radical prostatectomy and radiation.
"Myriad is excited to offer Prolaris testing to Tufts Health
Plan's members. We believe it will help to improve patient care and
lower healthcare costs," said Nicole Lambert, general manager,
Urology Business Unit, Myriad Genetic Laboratories. "The Prolaris
test has been validated in multiple clinical studies and provides
substantially stronger prognostic power than standard pathology.
The Prolaris test enables physicians to confidently tailor
treatment plans for their patients."
About Prolaris
Prolaris® is a prognostic test that measures the expression
level of genes involved with tumor proliferation to predict disease
outcome. Prolaris is the only test that provides insight into
meaningful oncologic endpoints by predicting 10-year prostate
cancer-specific mortality, thereby guiding medical management. For
more information visit: www.prolaris.com.
About Tufts Health Plan
Founded in 1979, Tufts Health Plan is nationally recognized for
its commitment to providing innovative, high-quality health care
coverage. Touching the lives of more than one million members,
Tufts Health Plan serves members in Massachusetts, Rhode Island and
New Hampshire through employer-sponsored plans; Medicare; and
Medicaid/subsidized plans, offering health insurance coverage
across the life span regardless of age or circumstance. Tufts
Health Plan consistently ranks among the nation's top rated plans
by the National Committee on Quality Assurance and the Centers for
Medicare and Medicaid Services.
About Myriad Genetics
Myriad Genetics Inc., is a leading personalized medicine company
dedicated to being a trusted advisor transforming patient lives
worldwide with pioneering molecular diagnostics. Myriad
discovers and commercializes molecular diagnostic tests that:
determine the risk of developing disease, accurately diagnose
disease, assess the risk of disease progression, and guide
treatment decisions across six major medical specialties where
molecular diagnostics can significantly improve patient care and
lower healthcare costs. Myriad is focused on three strategic
imperatives: transitioning and expanding its hereditary cancer
testing markets, diversifying its product portfolio through the
introduction of new products and increasing the revenue
contribution from international markets. For more information
on how Myriad is making a difference, please visit the Company's
website: www.myriad.com.
Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris
AP, myPath, myRisk, myRisk Hereditary Cancer, myChoice, myPlan,
BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice HRD, Vectra and
Prolaris are trademarks or registered trademarks of Myriad
Genetics, Inc. or its wholly owned subsidiaries in the United
States and foreign countries. MYGN-F, MYGN-G
Safe Harbor Statement
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements related to the signing of a contract
with Tufts Health Plan; Prolaris being the only prognostic test for
prostate cancer that has been validated against the clinically
meaningful endpoints of cancer-specific mortality and biochemical
recurrence; the ability of men to confidently pursue active
surveillance for tumors identified as being less aggressive with
Myriad's extensively validated Prolaris combined score; the ability
of the Prolaris test to improve patient care and lower healthcare
costs; the ability of the Prolaris test to enable physicians to
confidently tailor treatment plans for their patients; and the
Company's strategic directives under the caption "About Myriad
Genetics." These "forward-looking statements" are based on
management's current expectations of future events and are subject
to a number of risks and uncertainties that could cause actual
results to differ materially and adversely from those set forth in
or implied by forward-looking statements. These risks and
uncertainties include, but are not limited to: the risk that sales
and profit margins of our molecular diagnostic tests and
pharmaceutical and clinical services may decline; risks related to
our ability to transition from our existing product portfolio to
our new tests, including unexpected costs and delays; risks related
to decisions or changes in governmental or private insurers'
reimbursement levels for our tests or our ability to obtain
reimbursement for our new tests at comparable levels to our
existing tests; risks related to increased competition and the
development of new competing tests and services; the risk that we
may be unable to develop or achieve commercial success for
additional molecular diagnostic tests and pharmaceutical and
clinical services in a timely manner, or at all; the risk that we
may not successfully develop new markets for our molecular
diagnostic tests and pharmaceutical and clinical services,
including our ability to successfully generate revenue outside the
United States; the risk that licenses to the technology underlying
our molecular diagnostic tests and pharmaceutical and clinical
services and any future tests and services are terminated or cannot
be maintained on satisfactory terms; risks related to delays or
other problems with operating our laboratory testing facilities and
our healthcare clinic; risks related to public concern over genetic
testing in general or our tests in particular; risks related to
regulatory requirements or enforcement in the United States and
foreign countries and changes in the structure of the healthcare
system or healthcare payment systems; risks related to our ability
to obtain new corporate collaborations or licenses and acquire new
technologies or businesses on satisfactory terms, if at all; risks
related to our ability to successfully integrate and derive
benefits from any technologies or businesses that we license or
acquire; risks related to our projections about our business,
results of operations and financial condition; risks related to the
potential market opportunity for our products and services; the
risk that we or our licensors may be unable to protect or that
third parties will infringe the proprietary technologies underlying
our tests; the risk of patent-infringement claims or challenges to
the validity of our patents or other intellectual property; risks
related to changes in intellectual property laws covering our
molecular diagnostic tests and pharmaceutical and clinical services
and patents or enforcement in the United States and foreign
countries, such as the Supreme Court decision in the lawsuit
brought against us by the Association for Molecular Pathology et
al; risks of new, changing and competitive technologies and
regulations in the United States and internationally; and other
factors discussed under the heading "Risk Factors" contained in
Item 1A of our most recent Annual Report on Form 10-K for the
fiscal year ended June 30, 2015, which has been filed with the
Securities and Exchange Commission, as well as any updates to those
risk factors filed from time to time in our Quarterly Reports on
Form 10-Q or Current Reports on Form 8-K. All information in
this press release is as of the date of the release, and Myriad
undertakes no duty to update this information unless required by
law.
CONTACT: Media Contact:
Ron Rogers
(908) 285-0248
rrogers@myriad.com
Investor Contact:
Scott Gleason
(801) 584-1143
sgleason@myriad.com
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