High court ruling on gene patents lifts Myriad

Jun 13, 2013 by The Associated Press

Shares of diagnostic test maker Myriad Genetics Inc. are jumping Thursday after the Supreme Court issued a mixed ruling in a case involving the company's patents on genes at the center of its tests for increased risk of breast and ovarian cancer.

Myriad, based in Salt Lake City, sells a popular test for a gene linked to —the only one available because of its patents.

The high court ruled that genes naturally found in the body cannot be patented, but that synthetically created genetic material can be patented. That leaves an opening for Myriad to continue making money, Justice Clarence Thomas wrote in the court's majority opinion.

Myriad shares were up 10.3 percent, or $3.48, at to $37.40. They had earlier set a 52-week high at $38.27.

Explore further: Mexico City proposes regulations for Uber

Related Stories

US court says human genes cannot be patented (Update 4)

Jun 13, 2013

The U.S. Supreme Court on Thursday unanimously threw out attempts to patent human genes, siding with advocates who say the multibillion-dollar biotechnology industry should not have exclusive control over ...

Patenting the human genome

May 24, 2013

Can human genes be patented? That was the question posed by Alan J. Snyder, vice president and associate provost for research and graduate studies at Lehigh, and Lee Kaplan, scientific director of cellular and molecular genetics ...

US court to decide if human genes can be patented

Nov 30, 2012

The Supreme Court announced Friday it will decide whether companies can patent human genes, a decision that could reshape medical research in the United States and the fight against diseases like breast and ovarian cancer.

High court throws out human gene patents

Mar 26, 2012

(AP) -- The Supreme Court on Monday threw out a lower court ruling allowing human genes to be patented, a topic of enormous interest to cancer researchers, patients and drug makers.

US top court to hear case on gene patents

Apr 13, 2013

The US Supreme Court will hear arguments Monday on whether to allow private entities to patent genes they have isolated and identified, a decision that could have far-reaching implications for genetic research.

Recommended for you

Mexico City proposes regulations for Uber

Jul 04, 2015

Mexico City is proposing regulations that would allow Uber and other smartphone-based ride-sharing apps to operate, while requiring drivers and cars to be registered, the city's Office of Legal and Legislative Studies said ...

Shyp reclassifies contract couriers as employees

Jul 03, 2015

Shyp, the quickly growing startup that provides on-demand courier services, said Wednesday it would reclassify its contract workers as employees, becoming the latest high-profile tech company to change how it compensates ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.