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

BioReference Laboratories, Inc. Sued By Myriad Genetics, Confident In Its Position

ELMWOOD PARK, N.J., Oct. 22, 2013 (GLOBE NEWSWIRE) -- BioReference Laboratories, Inc. (Nasdaq:BRLI) announces that Myriad Genetics has filed a lawsuit against it in the Federal District Court in Utah alleging that BioReference, through its genetic sequencing laboratory, GeneDx, Inc, is infringing on its intellectual property by offering OncoGeneDx, its comprehensive series of inherited cancers testing, including testing for BRCA1/2. BioReference indicated that it is not surprised by the action and that it is confident in its position.

BioReference has engaged the firm of Sterne, Kessler, Goldstein & Fox to represent it in the action. The firm has represented the Company for many years and has a superior reputation in the field of intellectual property, especially in the area of genetic sequencing. BioReference stated that the test was introduced in August of the current year, after careful consideration in view of the Supreme Court's recent decisions in the field of genetic diagnostics. Its team of geneticists and sequencing scientists have developed several panels of tests for inherited cancers that will be valuable tools in the management of cancer. As always for BioReference, the tests will be based on innovative technology, will be affordable, and will be designed to provide the service and support that has enabled BioReference to maintain its sustained growth for the past two decades. Myriad Genetics has taken similar steps to defend its exclusivity for BRCA1/2 testing by suing other laboratories that offer BRCA1/2 testing. The latest action against BioReference is not unexpected and the Company is fully prepared to defend against the action. BioReference is confident in its legal position and its belief that patients are better served in this evolving area of medicine by having choices and better access to alternative testing sources.

About BioReference Laboratories, Inc .

BRLI is a clinical testing laboratory offering testing, information and related services to physician offices, clinics, hospitals, employers and governmental units. We believe that we are the fourth largest full-service laboratory in the United States and the largest independent regional laboratory in the Northeastern market. BRLI offers a comprehensive list of laboratory testing services utilized by healthcare providers in the detection, diagnosis, evaluation, monitoring and treatment of diseases. BRLI primarily focuses on esoteric testing, molecular diagnostics, anatomical pathology, women's health and correctional health care. Statements included in this release that are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements about the expected future business and financial performance of Bio-Reference Laboratories, Inc. and its subsidiaries. Statements looking forward in time are included in this release pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made and which reflect management's current estimates, projections, expectations or beliefs and which involve risks and uncertainties that could cause actual results and outcomes to be materially different. Risks and uncertainties that may affect the future results of the company include, but are not limited to, adverse results from pending or future government investigations, our ability to sustain continued growth, lawsuits or private actions, including any potential action involving Horizon as described herein, the competitive environment, changes in government regulations, changing relationships with customers, payers, suppliers and strategic partners, including recent proposals by CMS described herein,  and other and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise.
CONTACT: Tara Mackay
         Investor Relations Coordinator
         (201) 791-2600
         (201) 791-1941 (fax)

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


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs