Myriad and UnitedHealthcare Sign Three-Year Agreement Making myRisk(TM) Hereditary Cancer Test Available to United Members
May 06 2014 - 07:05AM
Myriad Genetics, Inc. (Nasdaq:MYGN) announced today that it has
signed a three-year contract with UnitedHealthcare. The contract
provides UnitedHealthcare with access for BRCA testing and the
myRisk Hereditary Cancer test for patients who meet the hereditary
cancer testing eligibility criteria.
Myriad's myRisk Hereditary Cancer test uses next-generation
sequencing technology to evaluate 25 clinically significant
hereditary cancer genes associated with eight major hereditary
cancers including: breast, colon, ovarian, endometrial, pancreatic,
prostate, gastric cancers and melanoma. The myRisk test has
demonstrated in multiple clinical studies a significant increase in
sensitivity by identifying over 50 percent more patients with
deleterious mutations that place a patient at substantially greater
lifetime risk for cancer.
"Myriad has been a pioneer in hereditary cancer testing for
almost 20 years," said Mark Capone, president of Myriad Genetic
Laboratories. "Through scientific research and innovation, Myriad
is able to provide a significantly more comprehensive, next
generation cancer test for hereditary cancer syndromes.
About Myriad Genetics
Myriad Genetics is a leading molecular diagnostic company
dedicated to making a difference in patients' lives through the
discovery and commercialization of transformative tests to assess a
person's risk of developing disease, guide treatment decisions and
assess risk of disease progression and recurrence. Myriad's
molecular diagnostic tests are based on an understanding of the
role genes play in human disease and were developed with a
commitment to improving an individual's decision making process for
monitoring and treating disease. Myriad is focused on strategic
directives to introduce new products, including companion
diagnostics, as well as expanding internationally. For more
information on how Myriad is making a difference, please visit the
Company's website: www.myriad.com.
Myriad, the Myriad logo and Myriad myRisk are trademarks or
registered trademarks of Myriad Genetics, Inc. 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 relating to the execution and
implementation of the agreement between the Company and
UnitedHealthcare for the Myriad myRisk Hereditary Cancer test; the
ability of the Myriad myRisk test to provide critical information
that can help prevent future cancers, reduce costs to the
healthcare system, and ultimately save patient lives; and the
Company's strategic directives under the caption "About Myriad
Genetics." These "forward-looking statements" are management's
present 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 described in the
forward-looking statements. These risks include, but are not
limited to: the risk that sales and profit margins of our existing
molecular diagnostic tests and companion diagnostic services may
decline or will not continue to increase at historical rates; risks
related to changes in the governmental or private insurers
reimbursement levels for our tests; the risk that we may be unable
to develop or achieve commercial success for additional molecular
diagnostic tests and companion diagnostic services in a timely
manner, or at all; the risk that we may not successfully develop
new markets for our molecular diagnostic tests and companion
diagnostic 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 companion
diagnostic services tests and any future tests are terminated or
cannot be maintained on satisfactory terms; risks related to delays
or other problems with operating our laboratory testing facilities;
risks related to public concern over our 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 increased competition and the development
of new competing tests 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; risks related to changes in intellectual property laws
covering our molecular diagnostic tests and companion diagnostic
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 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
(801) 584-3065
rrogers@myriad.com
Investor Contact:
Scott Gleason
(801) 584-1143
sgleason@myriad.com
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