Patent issues impact breast cancer screenings
This ruling has opened the door for other companies to enter the market for selling genetic screening tests for breast and ovarian cancer.
October 16, 2013 at 06:13 AM
2 minute read
The original version of this story was published on Law.com
Over the summer, the Supreme Court issued a ruling that sent shockwaves through the biotech sector. In a unanimous decision, the Court ruled that human genes are not patent-eligible. This was a huge blow for Myriad Genetics, which lost a group of patents on genes relating to breast and ovarian cancer.
This ruling has opened the door for other companies to enter the market for selling genetic screening tests for breast and ovarian cancer. Now that the Myriad monopoly on these types of tests has ended, Quest Diagnostics has decided to sell its own tests, making a move into what has proven to be a lucrative market.
According to The Wall Street Journal, Myriad earned $519.41 million last year selling screenings and related tests. Myriad's test has a list price of $3,340, while Quest plans to sell its test for quite a bit less: $2,500.
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