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myriad genetics inc (MYD) Details

Myriad Genetics, Inc., a molecular diagnostic company, focuses on the development and marketing of predictive, personalized, and prognostic medicine tests in the United States and internationally. The company operates through three segments: Research, Molecular Diagnostics, and Pharmaceutical and Clinical Services. The company’s molecular diagnostic tests are designed to analyze genes; diagnose diseases, expression levels, and proteins to assess an individual’s risk for developing disease later in life; determine a patient’s likelihood of responding to a particular drug; and assess a patient’s risk of disease progression and disease recurrence. It offers various molecular diagnostic tests, including BRACAnalysis and BART, which are predictive medicine tests for hereditary breast and ovarian cancer; COLARIS predictive medicine test for hereditary colorectal and uterine cancer; COLARIS AP predictive medicine test for hereditary colorectal cancer; EndoPredict medicine test for breast cancer; and MELARIS predictive medicine test for hereditary melanoma. The company also provides myPath Melanoma diagnostic medicine test for melanoma; myPlan lung cancer, a prognostic medicine test for lung cancer; myRisk Hereditary Cancer, a predictive medicine test for hereditary cancer; PANEXIA, a predictive medicine test for pancreatic cancer; PREZEON, a personalized medicine test for cancer; Prolaris, a prognostic medicine test for prostate cancer; and Vectra DA, a personalized medicine test for rheumatoid arthritis. In addition, it offers biomarker discovery, and pharmaceutical and clinical services to pharmaceutical, biotechnology, and medical research industries that include multi-analyte profile testing services; multiplexed immunoassay kits; and TruCulture, a self-contained whole blood culture that allows pharmaceutical and biotechnology companies to identify drug toxicity prior to human trials. The company was founded in 1991 and is headquartered in Salt Lake City, Utah.

1,649 Employees
Last Reported Date: 08/13/14
Founded in 1991

myriad genetics inc (MYD) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $997.0K
President of Myriad Genetic Laboratories
Total Annual Compensation: $568.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $734.0K
Chief Scientific Officer
Total Annual Compensation: $733.6K
Compensation as of Fiscal Year 2014.

myriad genetics inc (MYD) Key Developments

GeneDx, Inc. Announces Settlement of Cancer Gene Testing Patent Dispute with Myriad Genetics

Sterne, Kessler, Goldstein & Fox P.L.L.C. announced that its client GeneDx, Inc. has settled its patent dispute with Myriad Genetics, Inc. The settlement resolves allegations of infringement on 16 patents involved in the diagnosis of hereditary cancer – 11 for genes related to breast cancer (BRCA1 and BRCA2) and five related to genes for colon cancer (MUTYH). The settlement clears litigation in the U.S. District Court for the District of Utah initiated by Myriad against GeneDx in October 2013, and follows previous settlements with seven other defendants. As part of the settlement the parties will move to terminate 13 inter partes review proceedings Sterne Kessler filed for GeneDx with the U.S. Patent and Trademark Office challenging the patentability of 13 patents owned, co-owned or licensed by Myriad. Under the settlement Myriad has given GeneDx a covenant not to sue over the patents asserted in the litigation. GeneDx will thus continue offering its services for breast cancer diagnostics which, individually or part of more comprehensive panels, all include testing for mutations in the BRCA1 and BRCA2 genes.

Quest Diagnostics and Myriad Genetics End BRCA Patent Litigation

Quest Diagnostics announced that it and Myriad Genetics Inc. have reached an agreement that ends their BRCA gene-patent litigation. Under the agreement, Quest Diagnostics and Myriad Genetics and its co-parties in the litigation, the University of Utah Research Foundation, the Trustees of the University of Pennsylvania, HSC Research and Development Limited Partnership, and Endorecherche Inc. dismiss their lawsuits, claims, counterclaims and disputes related to Myriad's patent claims on BRCA1 and BRCA2 in the litigation. Myriad has also provided Quest Diagnostics and its physician, hospital and other customers and business partners a covenant not to sue with respect to the patents at issue. Quest Diagnostics has the right to continue to offer its BRCAvantage and other BRCA-related testing services in their present form and to develop and provide additional genomic testing services in the future based on the portfolio of patents asserted by Myriad in this case.

Myriad Genetics Inc. Announces Executive Changes

On February 3, 2015, Myriad Genetics Inc. announced that Peter D. Meldrum, President and Chief Executive Officer, has notified the company of his decision to retire at the conclusion of the fiscal year on June 30, 2015. Effective as of that date, Mr. Meldrum will also retire from his position as a member of the company's Board of Directors. On February 3, 2015, the company announced that Mark C. Capone, President of the company's large wholly-owned subsidiary, Myriad Genetic Laboratories Inc., will succeed Mr. Meldrum as President and Chief Executive Officer of Myriad Genetics Inc., effective as of July 1, 2015. Effective as of that date, Mr. Capone will also be appointed as a member of the company's Board of Directors. In total, Mr. Capone has almost 30 years of experience in the life science industry, having spent 17 years at Eli Lilly in various positions in sales and marketing, research and development, and manufacturing.


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