Myriad Genetics Collaborates with GSK to Improve Access to HRD Testing in 9 Countries
Myriad Genetics (NASDAQ: MYGN) has partnered with GSK to enhance access to homologous recombination deficiency (HRD) diagnostic testing for high-grade serous ovarian cancer (HGSOC) patients. The new sponsored program utilizes Myriad's MyChoice HRD Plus and MyChoice CDx Plus Tests and is available in nine countries, including Argentina, Brazil, Chile, Colombia, Egypt, Netherlands, Saudi Arabia, Singapore, and the UAE. This initiative seeks to improve patient care by providing vital genetic insights to guide personalized treatment decisions. The collaboration underscores both companies' dedication to healthcare equity and expanding diagnostic solutions to underserved markets.
- Collaboration with GSK potentially increases the market reach for Myriad's MyChoice Tests.
- The program spans across nine countries, expanding Myriad's global footprint.
- Enhanced access to HRD testing can improve personalized treatment for HGSOC patients.
- The initiative may lead to increased revenue from international markets.
- Myriad's commitment to healthcare equity could bolster its reputation and brand value.
- No immediate financial impact or revenue data was provided in the announcement.
- The initiative's success depends on the adoption rate by clinicians and healthcare systems in the listed countries.
- Logistical challenges in international sample processing could affect turnaround times and reliability.
Insights
Myriad Genetics' collaboration with GSK to enhance access to HRD testing in multiple countries signifies substantial progress in precision medicine for ovarian cancer. Homologous Recombinant Deficiency (HRD) is a genetic condition that makes cancer cells more susceptible to certain DNA-damaging drugs. By offering MyChoice Tests, Myriad enables clinicians to identify patients most likely to benefit from specific therapies, potentially improving outcomes and survival rates for patients with high-grade serous ovarian cancer (HGSOC).
In the short term, this collaboration is likely to increase the adoption of HRD testing and awareness about its significance among clinicians in the nine targeted countries. From a long-term perspective, broadening access to such tests may lead to more personalized and effective treatment plans, which could significantly impact the standard of care for HGSOC worldwide. Additionally, this initiative demonstrates an effort to address healthcare disparities by providing diagnostic tools to regions that might have limited access to advanced genetic testing.
However, the degree of success will depend on factors like the efficiency of sample logistics, training for local pathologists and integration of test results into clinical workflows. Moreover, regulatory environments and healthcare infrastructure in these countries could influence the program's penetration and effectiveness.
From a financial perspective, this collaboration with GSK could bolster Myriad Genetics' market penetration and revenue stream. Expanding MyChoice Test availability to nine new markets opens up significant revenue opportunities. For GSK, this partnership could enhance the efficacy of their therapeutic products by ensuring that treatments are directed towards patients more likely to benefit, potentially boosting drug sales and overall patient outcomes.
In the short term, increased sales from these diagnostic tests can positively impact Myriad's quarterly earnings. Investors should watch upcoming financial results to gauge the immediate impact. In the long term, establishing a strong presence in these international markets could position Myriad as a leader in genetic testing globally, potentially leading to sustainable growth and a larger market share.
Nevertheless, investors should remain cautious about potential risks such as integration challenges, market acceptance and regulatory hurdles that could delay or limit the expected financial benefits.
New sponsored testing program leverages Myriad’s MyChoice Tests for patients with high-grade serous ovarian cancer
SALT LAKE CITY, June 11, 2024 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today announced a collaboration with GSK aimed at improving access to homologous recombination deficiency (HRD) diagnostic testing for high-grade serous ovarian cancer (HGSOC) patients. A new sponsored testing program leveraging Myriad’s MyChoice HRD Plus and MyChoice CDx Plus Tests (collectively referred to as Myriad’s MyChoice Tests) is now available in Argentina, Brazil, Chile, Colombia, Egypt, Netherlands, Saudia Arabia, Singapore, and United Arab Emirates.
HRD testing is an important predictive and prognostic biomarker for patients who have ovarian cancer. Myriad’s MyChoice Tests determine HRD status in women with ovarian cancer. Clinicians can order this test through their local pathology labs and samples are sent to Myriad Genetics.
This collaboration delivers on both companies’ shared commitment to improve care for patients with advanced ovarian cancer by facilitating access to genetic testing and demonstrates a mutual dedication to meeting an unmet need for patients who otherwise may not have access to testing.
“Our collaboration with GSK is an important step forward in providing critical genetic insights that can help clinicians guide more personalized ovarian cancer treatment decisions,” said Patrick Burke, PhD, EVP of Strategy and Innovation, Myriad Genetics. “In the pursuit of advancing healthcare equity, Myriad is committed to extending the reach of our diagnostic solutions, like Myriad’s MyChoice Tests into additional markets to support more targeted patient care based on their genomic profile.”
About Myriad’s MyChoice Test
Myriad’s MyChoice® test is the most comprehensive tumor test for determining HRD status based on the assessment of genomic alterations in genes such as BRCA1 and BRCA2 and Genomic Instability Score (GIS) status using Myriad’s proprietary algorithm. It enables healthcare professionals to identify patients with advanced ovarian cancer who are more likely to respond to treatment with targeted therapies.
About Myriad Genetics
Myriad Genetics is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. Myriad develops and offers genetic tests that help assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where genetic insights can significantly improve patient care and lower healthcare costs. For more information, visit www.myriad.com.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including that this collaboration will increase access to HRD testing and can help clinicians guide more personalized ovarian cancer treatment decisions for patients. These “forward-looking statements” are management’s expectations of future events as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results, conditions, and events to differ materially and adversely from those anticipated. Such factors include those risks described in the company’s filings with the U.S. Securities and Exchange Commission, including the company’s Annual Report on Form 10-K filed on February 28, 2024, as well as any updates to those risk factors filed from time to time in the company’s Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Myriad is not under any obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.
Investor Contact
Matt Scalo
(801) 584-3532
IR@myriad.com
Media Contact
Glenn Farrell
(385) 318-3718
PR@myriad.com
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