Business Strategy and Outlook| Karen Andersen, CFA |
Myriad Genetics started out as the monopoly in hereditary breast cancer diagnostics. Its oldest test was BRACAnalysis, a predictive test for mutations tied to an increased risk of hereditary breast or ovarian cancer. It had exclusive testing rights with patents on isolated BRCA1 and BRCA2 genes until a 2013 Supreme Court decision ruled that isolated DNA cannot be patented, stripping away the company's intellectual property in its hereditary cancer suite. Since then, Myriad has tried to pivot to a more diverse diagnostic portfolio that builds on its expertise in hereditary diagnostics while moving into new markets, including hereditary predisposition for a range of cancers, noninvasive prenatal testing, and efficacy of drugs for depression.