This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

U.S Court Of Appeals Upholds Myriad's Gene Patents

SALT LAKE CITY, Aug. 16, 2012 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (Nasdaq:MYGN) reported today that the United States Court of Appeals for the Federal Circuit declared that the Company's composition of matter claims covering isolated DNA of the BRCA 1 and BRCA 2 genes are patent-eligible material under Section 101 of the United States Patent Act. This decision reinstates the prior decision by the Court on July 29, 2011.

"We are very pleased with the favorable decision the Court rendered today which again confirmed that isolated DNA is patentable," said Peter Meldrum, President and CEO of Myriad Genetics. "Importantly, the Court agreed with Myriad that isolated DNA is a new chemical matter with important utilities which can only exist as the product of human ingenuity."

It is important to correct some common misconceptions on the societal impact of "gene" patents; namely that such patents impede research, result in high-cost testing and takeaway a patient's option for second-opinion testing. Myriad believes that statements made to these points in the public press are incorrect. To set the record straight,
  • "Gene" patents have not hindered research on BRCA 1 and BRCA 2 and Myriad has never denied, opposed or impeded any research studies on these, or any other , genes. Further, more than 18,000 scientists have researched the BRCA genes, publishing more than 9,000 research papers.
  • The cost of the BRAC Analysis test is not prohibitive and patient access is extensive. Myriad has provided close to one million patients with BRAC Analysis test results. Approximately 95% of appropriate patients in the United States have access to BRAC Analysis either through private insurance, Medicare, Medicaid or Myriad's Financial Assistance Program, which provides coverage at no charge to low-income, uninsured patients. Over the past 3 years alone, more than 5,000 patients have benefitted from this assistance program.
  • Lastly, second opinion testing is available for patients with positive test results in a number of U.S. laboratories, including a large reference laboratory licensed by Myriad in 2001.

Brian M. Poissant, Gregory A. Castanias, Laura A. Coruzzi, Eileen Falvey, Jennifer L. Swize and Sasha Mayergoyz and other members of the law firm of Jones Day represented Myriad in this matter.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%
TSLA $247.54 -1.60%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs