Myriad Genetics Inc MYGN

Myriad Genetics Invests for Growth Across Core Testing Offering, Payer Dynamics Remain Challenging

Myriad Genetics started out as the monopoly in hereditary breast cancer diagnostics. Its oldest test was BRACAnalysis, a predictive test for mutations tied to an increased risk of hereditary breast or ovarian cancer. It had exclusive testing rights with patents on isolated BRCA1 and BRCA2 genes until a 2013 Supreme Court decision ruled that isolated DNA cannot be patented, stripping away the company's intellectual property in its hereditary cancer suite. Since then, Myriad has tried to pivot to a more diverse diagnostic portfolio that builds on its expertise in hereditary diagnostics while moving into new markets, including hereditary predisposition for a range of cancers, noninvasive prenatal testing, and efficacy of drugs for depression.