So Myriad’s products are addressing the major issues facing healthcare today, and clearly saves not only lives, but the healthcare system significant financial cost. Myriad has three significant growth drivers that the company is currently implementing.
Firstly, we are growing and expanding our existing markets, and I’ll talk briefly about that. In the near term we will see significant opportunities from Europe for the opening of our new laboratories in Munich, Germany; and in the midterm we’re both focused on launching new tests like our Prolaris product and other tests in 13 products pipeline.
As we look at growing a distinct test within the company, our lead product is BRACAnalysis, which assesses a woman’s risk for developing breast and ovarian cancer later in life. We recently expanded that market increasing the market size about 50%. With the addition of triple negative breast cancer and carcinoma in situ as well as focusing more on the ovarian cancer aspect. This has been complemented with a social media and interactive marketing campaign. And last quarter we saw a 17% growth in BRACAnalysis. And this market represent over $1 billion annually just in United States, not counting our European operations.
We're also very much focused on growing COLARIS, which is our second largest product. COLARIS assesses an individual’s risk of developing either colon cancer or a women’s risk of developing endometrial cancer. And we have put together a specialty colorectal cancer sales force team that has contributed to the 51% year-over-year revenue growth we find below this last quarter.I might point out that that's the second quarter in a row where we’ve seen greater than 60% revenue growth in this product. The COLARIS product has a $400 million market opportunity. And our newest product, Prolaris, assesses a man’s risk for dying with prostate cancer, differentiates between those individuals that have a very aggressive form of prostate cancer and man that have the slower growing indolent form of the disease where treatment may not be appropriate and watchful waiting or active surveillance may be a more appropriate course of action. This market represents a $700 million annual market opportunity.Read the rest of this transcript for free on seekingalpha.com
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