Myriad Genetics Issues Inaugural Environmental, Social and Governance Report

Rhea-AI Summary

Myriad Genetics (NASDAQ: MYGN) released its inaugural ESG report, focusing on enhancing health equity, social justice, and sustainability. In 2021, the company provided over $49 million in financial assistance to more than 86,000 patients lacking insurance. Myriad introduced the MyRisk™ Hereditary Cancer Test with RiskScore® to improve personalized breast cancer risk assessment. The company also emphasizes diversity and sustainability, highlighting that women represent 61% of its workforce. Significant recycling efforts and environmentally-friendly initiatives are underway at Myriad's facilities.

Positive

• Provided over $49 million in financial assistance to 86,000+ uninsured patients in 2021.
• Launched the MyRisk™ Hereditary Cancer Test with RiskScore® to improve cancer risk assessment.
• 61% of workforce are women, 40% in leadership roles, supporting diversity and inclusion.
• Reduced plastic waste by recycling nearly 70 tons since 2019 and implementing green energy solutions.

Negative

• None.

• 2021 report demonstrates focus on ESG initiatives supporting health equity, social justice, and sustainability

SALT LAKE CITY, June 28, 2022 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc., (NASDAQ: MYGN), a leader in genetic testing and precision medicine, today released its first environmental, social and governance (ESG) report, highlighting increased efforts to support a healthy, equitable and sustainable society. The report outlines actions taken to expand access to genetic testing, advance social justice, and increase environmental sustainability.

“For more than 31 years, Myriad Genetics has worked to be a force for good in the world as we fulfill our mission to advance health and well-being for all. In our inaugural ESG report, we seek to convey our core values as a caring, ethical, and sustainable company committed to continuous improvement,” said Paul J. Diaz, president and CEO, Myriad Genetics. “I want to thank our 2,400 teammates for the progress we have made to date, recognizing we have more work to be done. We are committed to intensifying our ESG focus helping to address the needs of the patients, healthcare providers, stakeholders, and communities we serve.”

Key highlights from the report include:

• Increasing affordable access to genetic testing. In 2021, Myriad Genetics provided more than $49 million in financial assistance to 86,000+ uninsured and underinsured patients, offering financial assistance, free testing, and payment options to those in need.
• Supporting underserved patient populations. In 2021, Myriad launched the newest version of its market-leading MyRisk™ Hereditary Cancer Test with RiskScore® which, for the first time offers women of all ancestries a personalized polygenic breast cancer risk assessment. In 2022, as part of its new suite of Precise™ Oncology Solutions, Myriad launched the Precise Treatment Registry, a secure cloud-based database designed to advance equitable care and accelerate collaborative cancer research by enabling any physician to analyze diverse, de-identified patient data involving ancestry, geography, diagnosis and treatment outcomes. Additionally, Myriad’s Prequel^® Prenatal Screen with AMPLIFY technology allows women with high body mass index (BMI) to gain access to this non-invasive prenatal screening protocol which uses cell-free DNA to determine if a pregnancy is at an increased risk for common chromosomal abnormalities.
• Embracing diversity, equity and inclusion. Myriad Genetics is committed to recruiting, hiring and promoting team members from diverse backgrounds. At the end of 2021, women made up 61% of the Myriad workforce, 40% of leadership roles, and 33% of the Board of Directors. The company also announced founding support for the development of a genetic counseling program at Xavier University of Louisiana, one of the country’s leading historically black universities.
• Advancing sustainability. Myriad has recycled nearly 70 tons of plastic from its Salt Lake City laboratory since 2019. The new Myriad Support Center in Salt Lake City is designed with environmentally friendly features including a 495-kilowatt photovoltaic solar energy system that provides electricity for portions of the campus, conserving energy and cost. The company is also starting construction on a new LEED certified Silver research and innovation center in South Francisco and a new molecular diagnostics lab in Salt Lake City. These state-of-the-art facilities will reflect the latest advancements in scalable modular design, including automated liquid handling, reduced waste volume, and lower use of plastics.

To view Myriad’s 2021 ESG Report in full, click here.

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 commercializes 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. Fast Company named Myriad among the World’s Most Innovative Companies for 2022. For more information, visit www.myriad.com.

Myriad, the Myriad logo, BRACAnalysis, BRACAnalysis CDx, Colaris, Colaris AP, MyRisk, Myriad MyRisk, MyRisk Hereditary Cancer, MyChoice CDx, Prequel, Prequel with Amplify, Amplify, Foresight, Precise, FirstGene, Health.Illuminated., RiskScore, Prolaris, GeneSight, and EndoPredict are trademarks or registered trademarks of Myriad Genetics, Inc. © 2022 Myriad Genetics, Inc. All rights reserved.

Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that the company’s new facilities will reflect the latest advancements in scalable modular design, including automated liquid handling, reduced waste volume, and lower use of plastics. These “forward-looking statements” are management’s present expectations of future events and are subject to a number of risks, uncertainties, assumptions, and other factors that could cause actual results to differ materially and adversely from those described in the forward-looking statements. 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 25, 2022, 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.

Media Contact:	Investor Contact:
Megan Manzari	Nathan Smith
(385) 318-3718	(801) 505-5067
Megan.Manzari@myriad.com	Nathan.Smith@myriad.com

FAQ

What initiatives does Myriad Genetics support according to their 2021 ESG report?

Myriad Genetics focuses on enhancing health equity, social justice, and environmental sustainability.

How much financial assistance did Myriad Genetics provide in 2021?

In 2021, Myriad Genetics provided over $49 million in financial assistance to more than 86,000 uninsured and underinsured patients.

What is the MyRisk™ Hereditary Cancer Test?

The MyRisk™ Hereditary Cancer Test with RiskScore® offers personalized breast cancer risk assessments.

How does Myriad Genetics support diversity in its workforce?

Myriad has 61% of its workforce composed of women and 40% of leadership roles held by women.

What sustainability practices has Myriad Genetics implemented?

Myriad has recycled nearly 70 tons of plastic since 2019 and uses solar energy in its facilities.